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

Key Points

• Fate Therapeutics has received a consensus recommendation of "Hold" from eight brokerages, with seven hold ratings and one buy rating, reflecting mixed analyst sentiment towards the stock.
• The stock recently opened at $0.92 and is trading down 6%, with a 12-month low of $0.66 and a high of $4.20.
• In its latest earnings report, Fate Therapeutics posted a loss of ($0.32) earnings per share, exceeding analyst estimates and generating revenue of $1.63 million for the quarter.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has earned a consensus recommendation of "Hold" from the eight brokerages that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.8333.

Several research analysts recently weighed in on the company. Robert W. Baird cut 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. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Barclays lowered their price target on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded Fate Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday.

Fate Therapeutics Trading Down 6.0%

Shares of FATE opened at $0.92 on Friday. The firm has a market capitalization of $105.59 million, a P/E ratio of -0.62 and a beta of 2.24. The stock's fifty day simple moving average is $1.20 and its 200 day simple moving average is $1.15. Fate Therapeutics has a twelve month low of $0.66 and a twelve month high of $4.20.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its earnings results 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 for 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%. Sell-side analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Large investors have recently modified their holdings of the business. Graham Capital Management L.P. acquired a new stake in shares of Fate Therapeutics during the fourth quarter valued at about $37,000. Savant Capital LLC acquired a new stake in shares of Fate Therapeutics during the second quarter valued at about $27,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics during the fourth quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fate Therapeutics during the fourth quarter valued at about $55,000. Finally, ProShare Advisors LLC grew its stake in shares of Fate Therapeutics by 77.9% during the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 14,728 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

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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