Fate Therapeutics' (FATE) "Hold" Rating Reaffirmed at Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE - Get Free Report)'s stock had its "hold" rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Stifel Nicolaus cut their price target on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Wedbush reissued a "neutral" rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 6th. Robert W. Baird lowered their price target on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Finally, Barclays lowered their price target on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.14.

Fate Therapeutics Trading Down 9.7%

NASDAQ FATE traded down $0.15 on Thursday, hitting $1.40. 2,170,548 shares of the company's stock traded hands, compared to its average volume of 2,246,881. Fate Therapeutics has a 1-year low of $0.66 and a 1-year high of $5.92. The firm's 50-day moving average price is $1.18 and its two-hundred day moving average price is $1.38. The firm has a market capitalization of $160.45 million, a PE ratio of -0.85 and a beta of 2.23.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

Hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its stake in shares of Fate Therapeutics by 8.7% in the fourth quarter. Baker BROS. Advisors LP now owns 3,258,402 shares of the biopharmaceutical company's stock worth $5,376,000 after acquiring an additional 260,630 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Fate Therapeutics by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after acquiring an additional 279,360 shares in the last quarter. Vestal Point Capital LP increased its holdings in shares of Fate Therapeutics by 2.1% during the first quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company's stock valued at $1,988,000 after acquiring an additional 50,850 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Fate Therapeutics by 67.8% during the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock worth $1,952,000 after buying an additional 999,773 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Fate Therapeutics by 38.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company's stock worth $1,741,000 after buying an additional 616,336 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.