Fate Therapeutics (NASDAQ:FATE) Upgraded 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, highlighting a shift in analyst sentiment towards the stock.
• Robert W. Baird and Barclays have lowered their price targets for Fate Therapeutics, with Barclays adjusting their target from $10.00 to $2.00.
• The company's stock performance shows a 52-week low of $0.66 and a high of $4.66, with current shares trading around $1.07 and a market capitalization of $122.62 million.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on FATE. Robert W. Baird decreased 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. Barclays reduced their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.83.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $1.07 on Friday. The stock has a market capitalization of $122.62 million, a PE ratio of -0.72 and a beta of 2.24. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $4.66. The company has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.16.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) 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, equities research analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Large investors have recently made changes to their positions in the stock. Graham Capital Management L.P. bought a new stake in Fate Therapeutics during the fourth quarter valued at approximately $37,000. Brevan Howard Capital Management LP bought a new stake in Fate Therapeutics during the fourth quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fate Therapeutics during the fourth quarter valued at approximately $55,000. ProShare Advisors LLC grew its position in Fate Therapeutics by 77.9% during the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 14,728 shares during the period. Finally, Squarepoint Ops LLC grew its position 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 buying an additional 20,805 shares during the period. 97.54% of the stock is currently 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.

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