Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Recommendation of "Hold" from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) has received a consensus rating of "Hold" from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.50.

Several equities analysts have weighed in on FATE shares. Wedbush restated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Stifel Nicolaus cut their target price on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday, November 18th. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a report on Thursday, March 6th. Finally, StockNews.com lowered Fate Therapeutics from a "hold" rating to a "sell" rating in a report on Tuesday.

Fate Therapeutics Stock Performance

Shares of NASDAQ:FATE traded down $0.07 during midday trading on Thursday, hitting $0.94. 2,344,931 shares of the stock were exchanged, compared to its average volume of 2,534,546. Fate Therapeutics has a 52-week low of $0.87 and a 52-week high of $7.70. The business's fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $2.30. The company has a market capitalization of $108.12 million, a PE ratio of -0.57 and a beta of 2.26.

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Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The business had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million. As a group, equities analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc bought 397,964 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Fate Therapeutics by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company's stock worth $6,431,000 after buying an additional 283,080 shares in the last quarter. Barclays PLC grew its position in Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock worth $1,485,000 after buying an additional 301,389 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 10,511 shares in the last quarter. Walleye Capital LLC boosted its holdings in Fate Therapeutics by 263.5% during the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 49,009 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $7,905,000 after purchasing an additional 10,863 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.