Fate Therapeutics (NASDAQ:FATE) Stock Price Down 5.4%

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report)'s stock price dropped 5.4% during trading on Friday . The stock traded as low as $4.73 and last traded at $4.77. Approximately 939,174 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,755,729 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

FATE has been the subject of several recent research reports. BMO Capital Markets increased their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a "market perform" rating in a report on Tuesday, February 27th. Morgan Stanley increased their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 27th. HC Wainwright reiterated a "neutral" rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Barclays increased their price objective on Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Fate Therapeutics presently has a consensus rating of "Hold" and an average price target of $6.73.

Fate Therapeutics Stock Down 5.0 %

The firm has a 50-day moving average price of $6.92 and a 200 day moving average price of $4.48. The firm has a market capitalization of $545.18 million, a PE ratio of -2.92 and a beta of 1.66.

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

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Royal Bank of Canada increased its position in shares of Fate Therapeutics by 13.8% during the third quarter. Royal Bank of Canada now owns 4,575 shares of the biopharmaceutical company's stock worth $103,000 after purchasing an additional 556 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Fate Therapeutics by 0.9% during the first quarter. Rhumbline Advisers now owns 89,382 shares of the biopharmaceutical company's stock worth $3,465,000 after buying an additional 758 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Fate Therapeutics by 17.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,737 shares of the biopharmaceutical company's stock valued at $260,000 after purchasing an additional 986 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Fate Therapeutics by 2.1% in the 3rd quarter. Two Sigma Advisers LP now owns 49,000 shares of the biopharmaceutical company's stock valued at $1,098,000 after purchasing an additional 1,000 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Fate Therapeutics by 5.9% in the 1st quarter. HighTower Advisors LLC now owns 18,361 shares of the biopharmaceutical company's stock valued at $714,000 after purchasing an additional 1,016 shares in 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.