Fate Therapeutics (NASDAQ:FATE) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.21 and traded as low as $1.12. Fate Therapeutics shares last traded at $1.15, with a volume of 1,039,135 shares.

Analyst Upgrades and Downgrades

FATE has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Robert W. Baird reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of Fate Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 28th. Finally, Barclays cut their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $3.83.

Fate Therapeutics Trading Down 0.9%

The stock has a market capitalization of $129.50 million, a price-to-earnings ratio of -0.76 and a beta of 2.18. The stock's 50 day moving average is $1.20 and its 200 day moving average is $1.20.

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, beating analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. The firm had revenue of $1.63 million for the quarter, compared to analysts' expectations of $1.18 million. On average, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Tang Capital Management LLC lifted its holdings in Fate Therapeutics by 165.1% in the fourth quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company's stock worth $3,062,000 after purchasing an additional 1,155,954 shares during the period. Walleye Capital LLC raised its position in Fate Therapeutics by 1,502.0% in the fourth quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company's stock worth $1,787,000 after acquiring an additional 1,015,483 shares in the last quarter. Acadian Asset Management LLC raised its position in Fate Therapeutics by 67.8% in the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock worth $1,952,000 after acquiring an additional 999,773 shares in the last quarter. Monaco Asset Management SAM raised its position in Fate Therapeutics by 250.9% in the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company's stock worth $908,000 after acquiring an additional 822,037 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Fate Therapeutics by 4,953.6% in the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company's stock worth $1,358,000 after acquiring an additional 806,846 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.