Fate Therapeutics (NASDAQ:FATE) Given "Hold" Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE - Free Report) in a report released on Wednesday morning,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. Wedbush reissued a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 6th. StockNews.com cut shares of Fate Therapeutics from a "hold" rating to a "sell" rating in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, March 6th. Finally, Stifel Nicolaus dropped their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Fate Therapeutics currently has an average rating of "Hold" and an average target price of $4.14.

Fate Therapeutics Trading Up 14.5%

FATE traded up $0.16 during trading on Wednesday, hitting $1.23. 1,990,357 shares of the company traded hands, compared to its average volume of 2,242,685. Fate Therapeutics has a 1 year low of $0.66 and a 1 year high of $5.92. The stock's 50-day simple moving average is $1.01 and its two-hundred day simple moving average is $1.50. The company has a market cap of $140.39 million, a PE ratio of -0.74 and a beta of 2.32.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $1.63 million during the quarter, compared to analysts' expectations of $1.18 million. Equities analysts expect that Fate Therapeutics will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company's stock valued at $6,431,000 after buying an additional 283,080 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 purchasing an additional 12,295 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Fate Therapeutics by 30.6% in the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 10,511 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Fate Therapeutics by 22.0% in the 4th quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company's stock valued at $179,000 after purchasing an additional 19,706 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Fate Therapeutics by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after purchasing an additional 279,360 shares in the last quarter. Institutional investors own 97.54% of the company's stock.

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.