Fate Therapeutics (NASDAQ:FATE - Get Free Report) had its price objective lowered by stock analysts at Canaccord Genuity Group from $11.00 to $9.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 120.59% from the company's previous close.
FATE has been the subject of a number of other research reports. Piper Sandler reduced their price objective on Fate Therapeutics from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Friday. Morgan Stanley upped their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Oppenheimer restated a "market perform" rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Finally, Wedbush restated a "neutral" rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $6.75.
Check Out Our Latest Research Report on Fate Therapeutics
Fate Therapeutics Stock Performance
Shares of NASDAQ:FATE traded up $0.18 during midday trading on Friday, reaching $4.08. 6,164,234 shares of the company's stock traded hands, compared to its average volume of 2,861,806. The company has a market cap of $464.37 million, a price-to-earnings ratio of -2.54 and a beta of 1.80. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.83. The stock has a 50 day moving average of $6.10 and a 200 day moving average of $4.70.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, meeting analysts' consensus estimates of ($0.47). The company had revenue of $1.93 million during the quarter, compared to analysts' expectations of $0.80 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Sell-side analysts predict that Fate Therapeutics will post -1.94 EPS for the current fiscal 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. Assenagon Asset Management S.A. lifted its stake in shares of Fate Therapeutics by 1,462.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company's stock valued at $18,705,000 after purchasing an additional 2,385,207 shares during the last quarter. Vestal Point Capital LP purchased a new stake in shares of Fate Therapeutics in the fourth quarter worth approximately $4,825,000. Acadian Asset Management LLC raised its holdings in shares of Fate Therapeutics by 135.5% in the third quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company's stock worth $4,555,000 after buying an additional 1,236,680 shares during the period. Superstring Capital Management LP purchased a new stake in shares of Fate Therapeutics in the fourth quarter worth approximately $3,171,000. Finally, Monaco Asset Management SAM raised its holdings in shares of Fate Therapeutics by 83.8% in the third quarter. Monaco Asset Management SAM now owns 1,847,944 shares of the biopharmaceutical company's stock worth $3,918,000 after buying an additional 842,718 shares during the period. 97.54% of the stock is owned by institutional investors.
About Fate Therapeutics
(
Get Free Report)
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.
Further Reading
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