Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Fate Therapeutics has a consensus “Hold” rating from eight brokerages, with four buys, three holds and one sell. The average 12-month price target is $5.90, though targets range from $4.00 to $8.00.
• Institutional investors own 97.54% of the company; notable activity included new positions from BlackRock and Johnson & Johnson and increased holdings by Renaissance Technologies and Two Sigma.
• The stock opened at $2.65, while the company reported quarterly revenue of $2.08 million and an adjusted loss of $0.25 per share, matching analyst estimates. Fate focuses on iPSC-derived cellular immunotherapies for cancer and immune disorders.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been given a consensus rating of "Hold" by the eight brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.90.

Several equities research analysts have weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Wedbush reiterated an "outperform" rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Fate Therapeutics in a research note on Friday, August 7th. Jefferies Financial Group set a $4.00 price target on shares of Fate Therapeutics in a research note on Tuesday, May 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Monday, June 8th.

Institutional Trading of Fate Therapeutics

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Fate Therapeutics in the 2nd quarter valued at about $19,707,000. Johnson & Johnson bought a new position in Fate Therapeutics in the 2nd quarter valued at about $9,123,473,000. Renaissance Technologies LLC lifted its position in Fate Therapeutics by 87.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company's stock worth $2,320,000 after acquiring an additional 1,098,366 shares during the last quarter. Irenic Capital Management LP acquired a new stake in Fate Therapeutics during the first quarter worth approximately $1,054,000. Finally, Two Sigma Investments LP lifted its position in Fate Therapeutics by 294.4% during the third quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company's stock worth $1,135,000 after acquiring an additional 672,352 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $2.65 on Thursday. The stock's 50 day simple moving average is $2.55 and its 200 day simple moving average is $1.89. Fate Therapeutics has a twelve month low of $0.93 and a twelve month high of $3.23. The company has a market capitalization of $317.52 million, a price-to-earnings ratio of -2.52 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $1.94 million. On average, analysts forecast that Fate Therapeutics will post -1.04 EPS for the current fiscal year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate's research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate's pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.

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