Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) PT at $6.75

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has been given a consensus recommendation of "Hold" by the ten analysts that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.75.

Several research analysts have weighed in on the stock. Wedbush restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Bank of America upgraded shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, HC Wainwright restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd.

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE traded down $0.33 on Tuesday, reaching $2.63. The company's stock had a trading volume of 3,489,556 shares, compared to its average volume of 4,034,855. Fate Therapeutics has a 52-week low of $1.96 and a 52-week high of $8.83. The stock's 50-day moving average is $2.84 and its two-hundred day moving average is $3.47.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million during the quarter, compared to analysts' expectations of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, analysts predict that Fate Therapeutics will post -1.72 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock valued at $1,485,000 after purchasing an additional 301,389 shares during the last quarter. Geode Capital Management LLC raised its stake in Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company's stock worth $7,905,000 after acquiring an additional 10,863 shares during the period. Walleye Capital LLC raised its stake in Fate Therapeutics by 263.5% during the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company's stock worth $237,000 after acquiring an additional 49,009 shares during the period. BNP Paribas Financial Markets raised its stake in Fate Therapeutics by 1,307.6% during the third quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company's stock worth $610,000 after acquiring an additional 161,776 shares during the period. Finally, FMR LLC raised its stake in Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company's stock worth $798,000 after acquiring an additional 46,892 shares during the period. Hedge funds and other 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.