Fate Therapeutics (NASDAQ:FATE) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Fate Therapeutics shares have fallen below their 200-day moving average of $1.10, trading as low as $0.97, with the last price at $1.01.
• Brokerages have mixed views on Fate Therapeutics, with a consensus rating of "Hold" and a target price of $3.30, while Wells Fargo has lowered its target to $2.50.
• Institutional investors hold 97.54% of Fate Therapeutics stock, with notable increases in holdings from several firms, indicating strong institutional interest.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.10 and traded as low as $0.97. Fate Therapeutics shares last traded at $1.01, with a volume of 1,660,516 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FATE. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Wells Fargo & Company dropped their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Fate Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $3.30.

Fate Therapeutics Stock Performance

The stock has a market capitalization of $116.48 million, a P/E ratio of -0.70 and a beta of 2.21. The company's 50-day moving average price is $1.07 and its 200 day moving average price is $1.10.

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

Institutional Trading of Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FATE. Savant Capital LLC bought a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $27,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics in the 2nd quarter valued at $28,000. CWM LLC increased its holdings in Fate Therapeutics by 899.6% in the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 37,290 shares during the last quarter. Caption Management LLC bought a new stake in Fate Therapeutics in the 1st quarter valued at $45,000. Finally, Jane Street Group LLC increased its holdings in Fate Therapeutics by 106.9% in the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company's stock valued at $50,000 after acquiring an additional 32,911 shares during the last quarter. 97.54% of the stock is currently owned by 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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