StockNews.com Downgrades Fate Therapeutics (NASDAQ:FATE) to Sell

Fate Therapeutics (NASDAQ:FATE - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.

Several other equities research analysts also recently weighed in on FATE. Barclays upped their price objective on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Morgan Stanley raised their price objective on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 27th. HC Wainwright reissued a "neutral" rating and set a $7.00 target price on shares of Fate Therapeutics in a report on Tuesday, March 19th. Bank of America boosted their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an "underperform" rating in a research note on Thursday, March 28th. Finally, Wedbush restated a "neutral" rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.75.

Fate Therapeutics Trading Up 4.6 %

FATE traded up $0.18 on Friday, hitting $4.08. 6,164,234 shares of the company's stock were exchanged, compared to its average volume of 2,713,561. The stock has a fifty day moving average of $6.03 and a two-hundred day moving average of $4.72. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $8.83. The firm has a market cap of $464.39 million, a PE ratio of -2.49 and a beta of 1.80.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.47). Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $0.80 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, analysts predict that Fate Therapeutics will post -1.94 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP raised its stake in Fate Therapeutics by 477.9% during the 3rd quarter. Dark Forest Capital Management LP now owns 425,901 shares of the biopharmaceutical company's stock valued at $903,000 after purchasing an additional 352,204 shares during the period. Acadian Asset Management LLC raised its position in Fate Therapeutics by 135.5% during the third quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company's stock valued at $4,555,000 after buying an additional 1,236,680 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Fate Therapeutics by 1,121.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 340,554 shares of the biopharmaceutical company's stock valued at $722,000 after purchasing an additional 312,678 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Fate Therapeutics by 281.3% in the third quarter. Assenagon Asset Management S.A. now owns 380,737 shares of the biopharmaceutical company's stock worth $807,000 after purchasing an additional 280,895 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Fate Therapeutics by 2.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,389,123 shares of the biopharmaceutical company's stock worth $5,065,000 after purchasing an additional 54,005 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

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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