Fate Therapeutics (NASDAQ:FATE) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Fate Therapeutics has received a "sell (E+)" rating from Weiss Ratings, while Wall Street Zen raised its rating to "hold" and Needham & Company LLC reaffirmed a "hold" rating.
• The company's stock price has a consensus target of $3.30 and is currently trading at $1.51, reflecting a market capitalization of $174.15 million.
• Fate Therapeutics reported a loss of $0.29 per share in its most recent quarter, exceeding analysts' expectations, with revenue of $1.91 million.

Fate Therapeutics (NASDAQ:FATE - Get Free Report)'s stock had its "sell (e+)" rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on the company. Wall Street Zen raised Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, August 18th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Wells Fargo & Company reduced their price target on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Fate Therapeutics has an average rating of "Hold" and a consensus target price of $3.30.

Fate Therapeutics Stock Up 8.6%

Shares of NASDAQ FATE opened at $1.51 on Wednesday. The stock has a market cap of $174.15 million, a PE ratio of -1.04 and a beta of 2.34. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $3.50. The business has a 50-day moving average price of $1.07 and a 200 day moving average price of $1.12.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%.The firm had revenue of $1.91 million during the quarter, compared to analysts' expectations of $1.16 million. Sell-side analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP increased its stake in Fate Therapeutics by 2.1% in the 1st quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company's stock valued at $1,988,000 after purchasing an additional 50,850 shares in the last quarter. Acadian Asset Management LLC increased its stake in Fate Therapeutics by 67.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock valued at $1,952,000 after purchasing an additional 999,773 shares in the last quarter. Geode Capital Management LLC increased its stake in Fate Therapeutics by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company's stock valued at $2,721,000 after purchasing an additional 159,558 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Fate Therapeutics by 38.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company's stock valued at $1,741,000 after purchasing an additional 616,336 shares in the last quarter. Finally, Monaco Asset Management SAM increased its stake in Fate Therapeutics by 250.9% in the 1st quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company's stock valued at $908,000 after purchasing an additional 822,037 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.

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