Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Rating of "Hold" from Brokerages

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

Several brokerages have recently issued reports on FATE. Barclays lowered their price target 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 downgraded Fate Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 28th. Robert W. Baird decreased 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock traded down $0.02 on Wednesday, reaching $1.13. 972,860 shares of the company were exchanged, compared to its average volume of 2,171,415. The company's 50-day moving average is $1.21 and its two-hundred day moving average is $1.19. The firm has a market cap of $129.50 million, a price-to-earnings ratio of -0.76 and a beta of 2.18. Fate Therapeutics has a 1-year low of $0.66 and a 1-year high of $5.92.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. Fate Therapeutics had a negative return on equity of 47.17% and a negative net margin of 1,318.93%. As a group, sell-side analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock worth $326,000 after acquiring an additional 12,295 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Fate Therapeutics by 154.2% during the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 20,805 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Fate Therapeutics by 22.0% in the 4th quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company's stock worth $179,000 after acquiring an additional 19,706 shares during the last quarter. Millennium Management LLC grew its holdings in Fate Therapeutics by 28.9% in the 4th quarter. Millennium Management LLC now owns 413,192 shares of the biopharmaceutical company's stock worth $682,000 after acquiring an additional 92,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

About Fate Therapeutics

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.