Stifel Nicolaus Has Lowered Expectations for Fate Therapeutics (NASDAQ:FATE) Stock Price

Fate Therapeutics (NASDAQ:FATE - Get Free Report) had its target price dropped by analysts at Stifel Nicolaus from $5.00 to $3.00 in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a "hold" rating on the biopharmaceutical company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 223.69% from the company's current price.

Several other research analysts also recently issued reports on FATE. StockNews.com upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday. Wedbush reaffirmed a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday. Finally, Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.50.

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Fate Therapeutics Price Performance

Shares of FATE traded down $0.08 during trading hours on Thursday, hitting $0.93. The stock had a trading volume of 2,271,640 shares, compared to its average volume of 2,565,236. The stock has a market capitalization of $106.21 million, a price-to-earnings ratio of -0.56 and a beta of 2.26. Fate Therapeutics has a 52 week low of $0.88 and a 52 week high of $8.44. The company's fifty day moving average is $1.36 and its two-hundred day moving average is $2.35.

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

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of Fate Therapeutics stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Several large investors have recently modified their holdings of FATE. Baker BROS. Advisors LP grew its position in shares of Fate Therapeutics by 8.7% in the 4th quarter. Baker BROS. Advisors LP now owns 3,258,402 shares of the biopharmaceutical company's stock valued at $5,376,000 after purchasing an additional 260,630 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fate Therapeutics by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,898,377 shares of the biopharmaceutical company's stock valued at $4,782,000 after buying an additional 279,360 shares during the period. Vestal Point Capital LP increased its position in shares of Fate Therapeutics by 46.3% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $7,905,000 after acquiring an additional 10,863 shares during the period. Finally, Tang Capital Management LLC lifted its position 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 valued at $3,062,000 after acquiring an additional 1,155,954 shares in the last quarter. 97.54% of the stock is currently owned by 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.