Fate Therapeutics (NASDAQ:FATE) Stock Price Passes Below Two Hundred Day Moving Average - What's Next?

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.31 and traded as low as $1.16. Fate Therapeutics shares last traded at $1.21, with a volume of 1,845,813 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FATE. Barclays cut their price objective on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Robert W. Baird cut their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Wedbush restated a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price objective on Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, Wall Street Zen upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $3.83.

Fate Therapeutics Stock Down 4.2%

The stock's fifty day moving average is $1.23 and its two-hundred day moving average is $1.28. The firm has a market capitalization of $130.64 million, a price-to-earnings ratio of -0.77 and a beta of 2.23.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings data 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. The business 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 1,318.93% and a negative return on equity of 47.17%. As a group, analysts anticipate that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $44,000. Y Intercept Hong Kong Ltd bought a new position in shares of Fate Therapeutics during the 4th quarter worth $58,000. Monaco Asset Management SAM increased its stake in shares of Fate Therapeutics by 138.0% in the fourth quarter. Monaco Asset Management SAM now owns 327,671 shares of the biopharmaceutical company's stock worth $541,000 after purchasing an additional 190,000 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Fate Therapeutics by 27.5% during the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 8,497 shares during the period. Finally, Privium Fund Management B.V. lifted its holdings in shares of Fate Therapeutics by 74.0% in the fourth quarter. Privium Fund Management B.V. now owns 87,000 shares of the biopharmaceutical company's stock worth $144,000 after buying an additional 37,000 shares in the last quarter. 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.