Fate Therapeutics (NASDAQ:FATE) Shares Pass Below 200 Day Moving Average - Time to Sell?

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FATE shares. Barclays dropped their target price on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Wall Street Zen downgraded Fate Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 28th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Robert W. Baird dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $3.83.

Fate Therapeutics Stock Down 0.9%

The stock has a market cap of $131.79 million, a price-to-earnings ratio of -0.77 and a beta of 2.18. The company has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.21.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 47.17% and a negative net margin of 1,318.93%. The company had revenue of $1.63 million for the quarter, compared to analysts' expectations of $1.18 million. As a group, analysts predict that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in shares of Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock worth $326,000 after buying an additional 12,295 shares in the last quarter. Squarepoint Ops LLC raised its position in Fate Therapeutics by 154.2% in the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock valued at $57,000 after buying an additional 20,805 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Fate Therapeutics by 22.0% during 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 during the last quarter. Millennium Management LLC increased its position in shares of Fate Therapeutics by 28.9% during the 4th quarter. Millennium Management LLC now owns 413,192 shares of the biopharmaceutical company's stock valued at $682,000 after purchasing an additional 92,576 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Fate Therapeutics by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock worth $4,782,000 after acquiring an additional 279,360 shares during the period. 97.54% of the stock is currently owned by institutional investors.

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.