Fate Therapeutics (NASDAQ:FATE) Receives Hold Rating from Needham & Company LLC

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

FATE has been the subject of several other research reports. Wall Street Zen raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Barclays cut 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. Wedbush reissued a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, March 6th. Wells Fargo & Company cut 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 report on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a report on Thursday, March 6th. 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 stock has an average rating of "Hold" and an average price target of $4.14.

Fate Therapeutics Stock Performance

Shares of FATE traded down $0.13 during trading hours on Thursday, hitting $1.28. The stock had a trading volume of 2,427,036 shares, compared to its average volume of 2,253,089. The firm has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.34. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $5.92. The firm has a market capitalization of $146.12 million, a price-to-earnings ratio of -0.77 and a beta of 2.23.

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

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently modified their holdings of the business. Graham Capital Management L.P. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth $37,000. Brevan Howard Capital Management LP purchased a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $41,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $55,000. Finally, ProShare Advisors LLC grew its holdings in shares of Fate Therapeutics by 77.9% in the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock valued at $56,000 after purchasing an additional 14,728 shares during the period. 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.