Fate Therapeutics' (FATE) "Neutral" Rating Reaffirmed at Wedbush

Fate Therapeutics (NASDAQ:FATE - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Wedbush in a research report issued on Thursday,Benzinga reports. They currently have a $5.00 price target on the biopharmaceutical company's stock. Wedbush's price objective would indicate a potential upside of 439.49% from the stock's previous close.

A number of other research firms have also commented on FATE. Bank of America raised Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. StockNews.com upgraded Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.50.

Fate Therapeutics Stock Down 8.2 %

Shares of NASDAQ FATE traded down $0.08 during midday trading on Thursday, reaching $0.93. The company had a trading volume of 2,271,640 shares, compared to its average volume of 2,565,236. The stock has a market cap of $106.21 million, a PE ratio of -0.56 and a beta of 2.26. Fate Therapeutics has a one year low of $0.88 and a one year high of $8.44. The firm's fifty day moving average price is $1.36 and its 200-day moving average price is $2.35.

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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 for the quarter, beating 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 firm had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. As a group, equities research analysts expect that Fate Therapeutics will post -1.63 EPS for the current year.

Insider Activity

In related news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the transaction, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.00% of the company's stock.

Institutional Trading of Fate Therapeutics

Institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. bought a new stake in shares of Fate Therapeutics in the 4th quarter worth $37,000. China Universal Asset Management Co. Ltd. bought a new stake in Fate Therapeutics during the fourth quarter valued at approximately $40,000. Brevan Howard Capital Management LP purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $41,000. FPC Investment Advisory Inc. bought a new stake in Fate Therapeutics during the fourth quarter valued at about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fate Therapeutics in the fourth quarter worth about $55,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.