Fate Therapeutics (NASDAQ:FATE) Raised 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.

Wall Street Zen upgraded shares of Fate Therapeutics (NASDAQ:FATE - Free Report) from a sell rating to a hold rating in a report published on Saturday.

Other research analysts also recently issued reports about the stock. Robert W. Baird lowered their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Barclays decreased their target price on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $3.83.

Fate Therapeutics Price Performance

FATE traded down $0.05 on Friday, reaching $1.04. 494,449 shares of the company traded hands, compared to its average volume of 2,059,396. The stock's 50 day moving average price is $1.22 and its 200-day moving average price is $1.16. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $4.48. The company has a market cap of $118.62 million, a price-to-earnings ratio of -0.69 and a beta of 2.24.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.18 million. As a group, equities research analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Large investors have recently bought and sold shares of the stock. CWM LLC raised its stake in Fate Therapeutics by 899.6% during the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 37,290 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Fate Therapeutics during the 4th quarter valued at $37,000. Brevan Howard Capital Management LP acquired a new position in Fate Therapeutics during the 4th quarter valued at $41,000. Caption Management LLC acquired a new position in Fate Therapeutics during the 1st quarter valued at $45,000. Finally, Jane Street Group LLC raised its stake in Fate Therapeutics by 106.9% during the 1st 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.