Fate Therapeutics (NASDAQ:FATE) Stock Price Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• Fate Therapeutics' shares surged past their 50-day moving average, trading at $1.41 with a high of $1.46, indicating recent positive momentum in the stock.
• Analyst ratings have varied, with a majority suggesting a "Hold" rating and a price target average of $3.30, while Weiss Ratings recently reiterated a "sell" rating.
• The company reported better-than-expected earnings with a revenue of $1.91 million for the quarter, exceeding estimates of $1.16 million.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.06 and traded as high as $1.46. Fate Therapeutics shares last traded at $1.41, with a volume of 6,309,574 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FATE. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Fate Therapeutics in a research report on Saturday, September 27th. Wells Fargo & Company lowered their price target on 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 raised Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $3.30.

Fate Therapeutics Price Performance

The stock has a market capitalization of $162.62 million, a P/E ratio of -0.97 and a beta of 2.34. The company's 50 day simple moving average is $1.06 and its two-hundred day simple moving average is $1.11.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.16 million. On average, research analysts anticipate that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Savant Capital LLC acquired a new position in Fate Therapeutics during the 2nd quarter worth about $27,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics in the second quarter worth about $28,000. CWM LLC lifted its position in shares of Fate Therapeutics by 899.6% during the first quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 37,290 shares in the last quarter. Caption Management LLC acquired a new position in shares of Fate Therapeutics during the first quarter worth approximately $45,000. Finally, Jane Street Group LLC grew its stake in shares of Fate Therapeutics by 106.9% during the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company's stock valued at $50,000 after purchasing an additional 32,911 shares during the last quarter. 97.54% of the stock is currently 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.

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