Fate Therapeutics' (FATE) Neutral Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE - Free Report) in a report released on Monday morning, MarketBeat Ratings reports. Wedbush currently has a $7.00 target price on the biopharmaceutical company's stock.

Several other research analysts also recently commented on the stock. Morgan Stanley raised their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an equal weight rating in a report on Tuesday, February 27th. Oppenheimer reissued a market perform rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Barclays lifted 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. Bank of America lifted their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the stock an underperform rating in a report on Thursday, March 28th. Finally, HC Wainwright reaffirmed a neutral rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, March 19th. 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 company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $6.90.

Fate Therapeutics Trading Up 3.9 %

Shares of FATE stock traded up $0.16 during trading hours on Monday, hitting $4.22. 2,228,356 shares of the company were exchanged, compared to its average volume of 2,817,961. The firm has a fifty day simple moving average of $6.36 and a 200 day simple moving average of $4.69. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83. The stock has a market capitalization of $480.32 million, a price-to-earnings ratio of -2.57 and a beta of 1.80.

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

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds have recently bought and sold shares of FATE. Assenagon Asset Management S.A. raised its holdings in shares of Fate Therapeutics by 1,462.4% during the first 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 position in shares of Fate Therapeutics during the fourth quarter valued at approximately $4,825,000. Acadian Asset Management LLC raised its holdings in shares of 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 purchasing an additional 1,236,680 shares during the last quarter. Superstring Capital Management LP purchased a new stake in Fate Therapeutics during the fourth quarter valued at approximately $3,171,000. Finally, Monaco Asset Management SAM increased its holdings in Fate Therapeutics by 83.8% during the third quarter. Monaco Asset Management SAM now owns 1,847,944 shares of the biopharmaceutical company's stock valued at $3,918,000 after buying an additional 842,718 shares during the last quarter. Institutional investors 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.