Fate Therapeutics (NASDAQ:FATE) Receives Hold Rating from Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE - Get Free Report)'s stock had its "hold" rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports.

A number of other research firms have also issued reports on FATE. BMO Capital Markets raised their target price on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Tuesday, February 27th. Oppenheimer reiterated a "market perform" rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. HC Wainwright reissued a "neutral" rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 19th. Barclays increased their price target on shares of Fate Therapeutics from $6.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, February 27th. Finally, Wedbush increased their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.73.

Fate Therapeutics Stock Down 5.1 %

Shares of FATE traded down $0.32 during mid-day trading on Thursday, hitting $5.95. 1,866,067 shares of the company's stock were exchanged, compared to its average volume of 2,811,203. The firm has a fifty day moving average of $7.01 and a two-hundred day moving average of $4.35. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $8.83. The stock has a market cap of $590.48 million, a price-to-earnings ratio of -3.63 and a beta of 1.66.

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

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FATE. Fox Run Management L.L.C. acquired a new stake in shares of Fate Therapeutics during the 3rd quarter worth about $25,000. Simplicity Solutions LLC acquired a new stake in shares of Fate Therapeutics during the 3rd quarter worth about $25,000. National Bank of Canada FI acquired a new stake in shares of Fate Therapeutics during the 3rd quarter worth about $25,000. Natixis acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth about $29,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Fate Therapeutics during the 3rd quarter worth about $30,000. 97.54% of the stock is owned by institutional investors.

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.