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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have been assigned an average rating of "Hold" from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.75.

A number of brokerages have issued reports on FATE. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note 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, Wedbush reaffirmed a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th.

Insider Buying and Selling

In related news, Director Redmile Group, Llc acquired 397,964 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares of the company's stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by insiders.

Remove Ads

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FATE. Vestal Point Capital LP increased its holdings in Fate Therapeutics by 46.3% during the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company's stock worth $4,067,000 after acquiring an additional 780,000 shares during the period. Squarepoint Ops LLC grew its stake in Fate Therapeutics by 154.2% in the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 20,805 shares in the last quarter. Tang Capital Management LLC grew its stake in Fate Therapeutics by 165.1% in the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company's stock worth $3,062,000 after buying an additional 1,155,954 shares in the last quarter. Sphera Funds Management LTD. bought a new position in shares of Fate Therapeutics in the 4th quarter worth $655,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at $55,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Trading Up 12.1 %

Shares of FATE stock traded up $0.19 during trading on Friday, hitting $1.72. The company's stock had a trading volume of 5,334,490 shares, compared to its average volume of 2,267,624. The company has a market cap of $195.32 million, a PE ratio of -1.04 and a beta of 2.02. The business has a fifty day moving average of $1.51 and a 200-day moving average of $2.58. Fate Therapeutics has a 52 week low of $1.04 and a 52 week high of $8.83.

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.