Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $3.83

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 an average rating of "Hold" from the eight ratings firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $3.5833.

A number of analysts have recently issued reports on FATE shares. Barclays lowered their price objective 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 Sunday. Wells Fargo & Company decreased their price target on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating on the stock in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Finally, Robert W. Baird decreased their price target on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Fate Therapeutics by 19.6% in the second quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company's stock worth $286,000 after purchasing an additional 41,869 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fate Therapeutics by 7.0% in the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company's stock worth $2,721,000 after purchasing an additional 159,558 shares in the last quarter. Savant Capital LLC acquired a new position in Fate Therapeutics in the second quarter worth $27,000. Vanguard Personalized Indexing Management LLC boosted its stake in Fate Therapeutics by 65.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 71,364 shares of the biopharmaceutical company's stock worth $80,000 after purchasing an additional 28,268 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Fate Therapeutics by 67.8% in the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock worth $1,952,000 after purchasing an additional 999,773 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

Fate Therapeutics Stock Down 6.6%

NASDAQ FATE traded down $0.08 during trading on Friday, hitting $1.06. The company's stock had a trading volume of 795,008 shares, compared to its average volume of 2,052,075. The firm has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.15. The firm has a market cap of $120.90 million, a P/E ratio of -0.73 and a beta of 2.24. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $4.20.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. The business had revenue of $1.91 million for the quarter, compared to analysts' expectations of $1.16 million. Fate Therapeutics had a negative return on equity of 48.52% and a negative net margin of 2,025.05%. On average, equities analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

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.