Fate Therapeutics (NASDAQ:FATE) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE - Free Report) in a research report report published on Wednesday morning,Benzinga reports.

A number of other research firms have also commented on FATE. HC Wainwright reaffirmed a "neutral" rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Wedbush reissued a "neutral" rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of "Hold" and an average price target of $6.89.

Fate Therapeutics Trading Down 6.3 %

FATE stock traded down $0.15 during trading on Wednesday, hitting $2.23. 1,127,291 shares of the company traded hands, compared to its average volume of 2,173,149. Fate Therapeutics has a 1 year low of $2.05 and a 1 year high of $8.83. The company has a 50-day moving average of $3.20 and a 200-day moving average of $3.62.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to analysts' expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%. As a group, sell-side analysts anticipate that Fate Therapeutics will post -1.73 earnings per share for the current year.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of FATE. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Fate Therapeutics in the 1st quarter worth $432,000. BNP Paribas Financial Markets lifted its position in Fate Therapeutics by 100.9% during the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company's stock valued at $345,000 after purchasing an additional 23,582 shares in the last quarter. Vanguard Group Inc. lifted its position in Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company's stock valued at $72,747,000 after purchasing an additional 617,644 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company's stock valued at $2,014,000 after purchasing an additional 219,932 shares in the last quarter. Finally, Baker BROS. Advisors LP purchased a new position in Fate Therapeutics during the first quarter valued at $13,345,000. 97.54% of the stock is currently 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.