Fate Therapeutics (NASDAQ:FATE) Stock Rating Upgraded by 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 report issued on Monday morning.

A number of other brokerages have also recently commented on FATE. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Wells Fargo & Company decreased their target price on Fate Therapeutics from $4.00 to $2.50 and set an "equal weight" rating on the stock in a report on Wednesday, August 13th. Barclays decreased their target price on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Robert W. Baird decreased their target price on Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.58.

Fate Therapeutics Stock Performance

Shares of FATE stock traded down $0.01 on Monday, reaching $1.13. The stock had a trading volume of 904,392 shares, compared to its average volume of 2,043,807. The stock has a market cap of $130.32 million, a P/E ratio of -0.78 and a beta of 2.24. Fate Therapeutics has a 1 year low of $0.6611 and a 1 year high of $4.20. The company has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.14.

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 analysts' consensus estimates 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 company had revenue of $1.91 million for the quarter, compared to analysts' expectations of $1.16 million. On average, equities research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC raised its holdings in Fate Therapeutics by 154.2% during the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 20,805 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Fate Therapeutics by 22.0% in the fourth quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company's stock worth $179,000 after purchasing an additional 19,706 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Fate Therapeutics by 28.9% in the fourth quarter. Millennium Management LLC now owns 413,192 shares of the biopharmaceutical company's stock worth $682,000 after purchasing an additional 92,576 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $4,782,000 after purchasing an additional 279,360 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Fate Therapeutics by 56.3% in the fourth quarter. Wells Fargo & Company MN now owns 92,395 shares of the biopharmaceutical company's stock worth $152,000 after purchasing an additional 33,284 shares during the last quarter. 97.54% of the stock is 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.