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

Key Points

• Fate Therapeutics has received a consensus rating of "Hold" from seven ratings firms, with six analysts maintaining the hold rating and one recommending a buy.
• The average 12-month price target for Fate Therapeutics stock is $3.30, despite current trading around $1.00.
• The company reported a loss of ($0.29) earnings per share for the last quarter, surpassing expectations, but still faces significant negative margins and a forecasted earnings per share of (-1.63) for the year.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been assigned a consensus rating of "Hold" from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.30.

A number of equities analysts recently commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Wall Street Zen raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Fate Therapeutics in the second quarter worth approximately $56,000. Bridgeway Capital Management LLC bought a new position in Fate Therapeutics in the second quarter worth approximately $28,000. Jane Street Group LLC raised its stake in Fate Therapeutics by 631.4% in the second quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company's stock worth $522,000 after buying an additional 402,129 shares in the last quarter. Sei Investments Co. bought a new position in Fate Therapeutics in the second quarter worth approximately $76,000. Finally, Invesco Ltd. grew its holdings 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 during the last quarter. Institutional investors own 97.54% of the company's stock.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $1.00 on Monday. The company has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.10. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $3.80. The company has a market capitalization of $115.33 million, a PE ratio of -0.69 and a beta of 2.21.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.16 million. On average, analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

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.

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