Fate Therapeutics (NASDAQ:FATE) Shares Cross Above 50-Day Moving Average - Time to Sell?

Key Points

• Fate Therapeutics shares briefly crossed above their 50-day moving average of $2.48, reaching $2.58 before last trading at $2.43 on notable volume.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $5.90, with targets ranging from $3.50 to $8.00.
• The company remains financially challenged, reporting a quarterly loss of $0.25 per share, a negative net margin of 1,941.09%, and projected full-year EPS of -$1.03; institutional investors own 97.54% of shares.

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $2.48 and traded as high as $2.58. Fate Therapeutics shares last traded at $2.43, with a volume of 3,381,399 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FATE shares. Piper Sandler reiterated an "overweight" rating and issued a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Fate Therapeutics in a research note on Friday, August 7th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, June 8th. Wedbush reaffirmed an "outperform" rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, August 14th. Finally, Wells Fargo & Company upped their price target on Fate Therapeutics from $2.50 to $3.50 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fate Therapeutics presently has a consensus rating of "Hold" and an average target price of $5.90.

Fate Therapeutics Stock Performance

The company's 50 day moving average price is $2.48 and its 200 day moving average price is $2.16. The company has a market cap of $291.16 million, a price-to-earnings ratio of -2.31 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.25). The firm had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. As a group, analysts predict that Fate Therapeutics, Inc. will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Fate Therapeutics during the 2nd quarter worth approximately $19,707,000. Johnson & Johnson bought a new position in Fate Therapeutics in the 2nd quarter valued at $9,123,473. Renaissance Technologies LLC boosted its stake in Fate Therapeutics by 26.0% in the first quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company's stock worth $3,570,000 after purchasing an additional 613,802 shares in the last quarter. Irenic Capital Management LP acquired a new position in Fate Therapeutics in the first quarter worth $1,054,000. Finally, Bruce & Co. Inc. grew its holdings in shares of Fate Therapeutics by 8.2% during the first quarter. Bruce & Co. Inc. now owns 789,188 shares of the biopharmaceutical company's stock worth $947,000 after purchasing an additional 60,000 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.

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