Fate Therapeutics (NASDAQ:FATE) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Fate Therapeutics (NASDAQ:FATE - Free Report) from a hold rating to a sell rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the stock. Wedbush reaffirmed a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, March 6th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Wells Fargo & Company decreased their target price on Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus dropped their price target on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a research report on Thursday, March 6th. Finally, Barclays cut their price target on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.83.

Fate Therapeutics Trading Up 1.8%

Shares of FATE stock traded up $0.02 during trading hours on Friday, reaching $1.14. 1,509,857 shares of the stock were exchanged, compared to its average volume of 2,216,648. Fate Therapeutics has a 12-month low of $0.66 and a 12-month high of $5.92. The company's 50-day moving average price is $1.22 and its 200-day moving average price is $1.24. The firm has a market capitalization of $130.64 million, a price-to-earnings ratio of -0.77 and a beta of 2.19.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, sell-side analysts expect that Fate Therapeutics will post -1.63 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its stake in shares of Fate Therapeutics by 27.5% during the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 8,497 shares during the last quarter. American Century Companies Inc. lifted its stake in Fate Therapeutics by 6.6% in the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock valued at $326,000 after buying an additional 12,295 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Fate Therapeutics by 9.6% in the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company's stock worth $273,000 after buying an additional 14,532 shares during the last quarter. ProShare Advisors LLC raised its holdings 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Fate Therapeutics by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 378,619 shares of the biopharmaceutical company's stock worth $625,000 after acquiring an additional 16,000 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

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.