Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.00 and traded as low as $0.68. Fate Therapeutics shares last traded at $0.68, with a volume of 2,422,838 shares trading hands.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Thursday, March 6th. Stifel Nicolaus reduced their price target on Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price objective on Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Wedbush reaffirmed a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of Fate Therapeutics from a "hold" rating to a "sell" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.43.
Read Our Latest Analysis on FATE
Fate Therapeutics Stock Performance
The stock has a 50-day moving average price of $1.09 and a 200-day moving average price of $1.90. The stock has a market cap of $103.80 million, a P/E ratio of -0.55 and a beta of 2.41.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results 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 business had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 283,080 shares during the last quarter. Barclays PLC raised its holdings in shares of Fate Therapeutics by 245.3% during the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock valued at $1,485,000 after buying an additional 301,389 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 10,511 shares in the last quarter. Walleye Capital LLC lifted its position in Fate Therapeutics by 263.5% in the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company's stock worth $237,000 after buying an additional 49,009 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company's stock worth $7,905,000 after buying an additional 10,863 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
About Fate Therapeutics
(
Get Free Report)
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.
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