Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.75 Average Target Price from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has received an average recommendation of "Hold" from the ten analysts that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.75.

FATE has been the topic of a number of analyst reports. Wedbush restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Bank of America raised Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Fate Therapeutics by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company's stock worth $1,227,000 after purchasing an additional 72,139 shares during the period. Rhumbline Advisers boosted its stake in Fate Therapeutics by 11.0% during the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company's stock worth $525,000 after buying an additional 15,825 shares during the period. Arizona State Retirement System bought a new position in Fate Therapeutics during the second quarter valued at $84,000. Acadian Asset Management LLC raised its stake in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company's stock valued at $6,587,000 after acquiring an additional 294,738 shares during the period. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth about $33,000. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE traded down $0.01 during trading on Friday, hitting $1.61. The company had a trading volume of 2,406,789 shares, compared to its average volume of 2,446,734. Fate Therapeutics has a 12 month low of $1.56 and a 12 month high of $8.83. The firm has a market capitalization of $183.37 million, a P/E ratio of -0.98 and a beta of 1.95. The stock has a 50 day simple moving average of $2.38 and a 200 day simple moving average of $3.26.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its 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. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. As a group, analysts predict that Fate Therapeutics will post -1.72 EPS for the current year.

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.