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Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $3.83 Consensus Target Price from Brokerages

Fate Therapeutics logo with Medical background

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have received an average rating of "Hold" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.83.

FATE has been the topic of several research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Barclays dropped their target price on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen cut Fate Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 28th. Finally, Robert W. Baird dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th.

Read Our Latest Stock Report on FATE

Fate Therapeutics Stock Performance

FATE stock traded up $0.02 during midday trading on Wednesday, reaching $1.17. 176,987 shares of the company traded hands, compared to its average volume of 2,170,216. The firm has a market capitalization of $133.51 million, a price-to-earnings ratio of -0.78 and a beta of 2.18. The business has a 50 day moving average of $1.21 and a 200-day moving average of $1.20. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.92.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 47.17% and a negative net margin of 1,318.93%. The firm had revenue of $1.63 million for the quarter, compared to analysts' expectations of $1.18 million. Research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP boosted its position in shares of Fate Therapeutics by 8.7% in the 4th quarter. Baker BROS. Advisors LP now owns 3,258,402 shares of the biopharmaceutical company's stock worth $5,376,000 after purchasing an additional 260,630 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fate Therapeutics by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock worth $4,782,000 after acquiring an additional 279,360 shares during the last quarter. Vestal Point Capital LP raised its stake in Fate Therapeutics by 2.1% in the 1st quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company's stock worth $1,988,000 after acquiring an additional 50,850 shares during the last quarter. Acadian Asset Management LLC raised its stake in Fate Therapeutics by 67.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock worth $1,952,000 after acquiring an additional 999,773 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Fate Therapeutics by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company's stock worth $1,741,000 after acquiring an additional 616,336 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

About Fate Therapeutics

(Get Free Report

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.

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