Fate Therapeutics (NASDAQ:FATE) Rating Increased to Hold at Wall Street Zen

Key Points

• Fate Therapeutics has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, alongside similar ratings from other analysts.
• The current average target price for Fate Therapeutics is $3.58, reflecting a challenging market environment with a recent low of $0.66 and a high of $4.20 over the past year.
• Institutional investors hold a significant stake in Fate Therapeutics, with 97.54% of the stock owned by these entities, indicating strong investor confidence despite recent financial losses.

Wall Street Zen upgraded shares of Fate Therapeutics (NASDAQ:FATE - Free Report) from a sell rating to a hold rating in a research note released on Monday.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating for the company in a report on Wednesday, August 13th. Barclays dropped their target price on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Finally, Robert W. Baird dropped their target price on shares of 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 Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $3.30.

Fate Therapeutics Stock Up 3.6%

NASDAQ FATE traded up $0.04 during trading hours on Monday, hitting $1.15. 1,839,621 shares of the stock were exchanged, compared to its average volume of 1,480,061. The company has a market cap of $132.63 million, a price-to-earnings ratio of -0.79 and a beta of 2.24. Fate Therapeutics has a 12-month low of $0.6611 and a 12-month high of $4.20. The stock has a 50-day moving average of $1.13 and a 200 day moving average of $1.14.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. The firm had revenue of $1.91 million during the quarter, compared to analysts' expectations of $1.16 million. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. On average, equities research analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Several large investors have recently modified their holdings of the business. Baker BROS. Advisors LP grew its position in shares of Fate Therapeutics by 8.7% in the fourth quarter. Baker BROS. Advisors LP now owns 3,258,402 shares of the biopharmaceutical company's stock valued at $5,376,000 after purchasing an additional 260,630 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fate Therapeutics by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after purchasing an additional 279,360 shares during the last quarter. Vestal Point Capital LP grew its position in shares of Fate Therapeutics by 2.1% in the first quarter. Vestal Point Capital LP now owns 2,515,850 shares of the biopharmaceutical company's stock valued at $1,988,000 after purchasing an additional 50,850 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of 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 valued at $1,952,000 after purchasing an additional 999,773 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Fate Therapeutics by 7.0% during the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company's stock worth $2,721,000 after acquiring an additional 159,558 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.