Fate Therapeutics (NASDAQ:FATE) Shares Down 2.5%

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) was down 2.5% during trading on Monday . The stock traded as low as $6.70 and last traded at $6.75. Approximately 176,379 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,818,306 shares. The stock had previously closed at $6.92.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FATE. Barclays raised their target price on Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. HC Wainwright reaffirmed a "neutral" rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Tuesday, March 19th. Wedbush raised their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their target price on Fate Therapeutics from $6.00 to $7.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley raised their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Fate Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $6.73.

Fate Therapeutics Trading Down 3.0 %

The firm has a market capitalization of $665.90 million, a PE ratio of -4.09 and a beta of 1.66. The business has a fifty day moving average price of $7.01 and a two-hundred day moving average price of $4.29.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The company had revenue of $1.68 million during the quarter, compared to analysts' expectations of $0.85 million. During the same period last year, the business posted ($0.58) EPS. On average, equities analysts forecast that Fate Therapeutics, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Activity at Fate Therapeutics

In related news, General Counsel Cindy Tahl sold 10,874 shares of the firm's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $4.37, for a total transaction of $47,519.38. Following the completion of the transaction, the general counsel now directly owns 142,361 shares in the company, valued at approximately $622,117.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Cindy Tahl sold 10,874 shares of the firm's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $4.37, for a total transaction of $47,519.38. Following the completion of the transaction, the general counsel now directly owns 142,361 shares in the company, valued at approximately $622,117.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bahram Valamehr sold 11,271 shares of Fate Therapeutics stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $4.38, for a total value of $49,366.98. Following the completion of the transaction, the insider now owns 158,069 shares of the company's stock, valued at approximately $692,342.22. The disclosure for this sale can be found here. Insiders sold 45,413 shares of company stock worth $199,732 in the last three months. 5.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FATE. Envestnet Asset Management Inc. boosted its stake in shares of Fate Therapeutics by 20.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the biopharmaceutical company's stock valued at $339,000 after buying an additional 1,457 shares during the period. Raymond James & Associates raised its position in shares of Fate Therapeutics by 42.6% during the 1st quarter. Raymond James & Associates now owns 29,436 shares of the biopharmaceutical company's stock worth $1,141,000 after acquiring an additional 8,790 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Fate Therapeutics by 5.9% during the 1st quarter. HighTower Advisors LLC now owns 18,361 shares of the biopharmaceutical company's stock worth $714,000 after acquiring an additional 1,016 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Fate Therapeutics by 25.7% during the 1st quarter. Private Advisor Group LLC now owns 9,481 shares of the biopharmaceutical company's stock worth $367,000 after acquiring an additional 1,938 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Fate Therapeutics by 17.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,737 shares of the biopharmaceutical company's stock worth $260,000 after acquiring an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company's stock.

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.