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

Key Points

• Fate Therapeutics has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The company's shares have a current price of $0.92 and a consensus price target of $3.83, indicating potential improvement.
• Fate Therapeutics reported a quarterly EPS of ($0.32), exceeding analysts' expectations of ($0.39) by $0.07.

Wall Street Zen cut shares of Fate Therapeutics (NASDAQ:FATE - Free Report) from a hold rating to a sell rating in a research note released on Sunday morning.

A number of other equities research analysts have also commented on the stock. Barclays lowered their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Robert W. Baird cut their price objective on shares of 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 reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Fate Therapeutics has a consensus rating of "Hold" and an average price target of $3.58.

Fate Therapeutics Stock Performance

FATE stock traded down $0.08 during mid-day trading on Friday, hitting $1.06. The company had a trading volume of 775,642 shares, compared to its average volume of 2,051,826. The firm has a market cap of $120.90 million, a PE ratio of -0.73 and a beta of 2.24. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $4.20. The stock's fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.15.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.06. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 48.52%. Equities analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Savant Capital LLC acquired a new position in Fate Therapeutics in the second quarter valued at approximately $27,000. CWM LLC raised its position in Fate Therapeutics by 899.6% in the first quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 37,290 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at $37,000. Brevan Howard Capital Management LP purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at $41,000. Finally, Caption Management LLC acquired a new stake in shares of Fate Therapeutics during the first quarter valued at $45,000. Hedge funds and other institutional investors 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.