Fate Therapeutics (NASDAQ:FATE) Share Price Breaks Below 200-Day Moving Average - What's Next?

Key Points

• Fate Therapeutics shares fell below their 200-day moving average, trading as low as $1.82 and last at $1.85, below the $1.97 average.
• Analyst sentiment is mixed but averages to “Moderate Buy”: four analysts rate the stock Buy, one Hold, and one Sell; the average price target is $5.90.
• The company reported a quarterly loss of $0.25 per share, beating estimates of a $0.27 loss, while revenue of $1.35 million also exceeded expectations.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $1.97 and traded as low as $1.82. Fate Therapeutics shares last traded at $1.85, with a volume of 2,810,973 shares.

Analyst Ratings Changes

A number of research firms recently issued reports on FATE. Wedbush restated an "outperform" rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, October 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Finally, Wells Fargo & Company raised their target price on Fate Therapeutics from $2.50 to $3.50 and gave the company an "equal weight" rating in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.90.

Fate Therapeutics Stock Performance

The firm has a 50 day simple moving average of $2.25 and a two-hundred day simple moving average of $1.97. The stock has a market cap of $221.67 million, a P/E ratio of -1.76 and a beta of 2.65.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.02. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. The company had revenue of $1.35 million during the quarter, compared to analysts' expectations of $1.14 million. As a group, equities research analysts predict that Fate Therapeutics, Inc. will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Callan Family Office LLC acquired a new stake in Fate Therapeutics in the 2nd quarter valued at about $29,000. Bank of New York Mellon Corp bought a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $31,000. HB Wealth Management LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $31,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $35,000. 97.54% of the stock is currently owned by institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate's pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.

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