Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.67 and traded as low as $2.51. Fate Therapeutics shares last traded at $2.55, with a volume of 1,207,521 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on FATE shares. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. HC Wainwright reissued a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.90.
Check Out Our Latest Research Report on Fate Therapeutics
Fate Therapeutics Price Performance
The business's 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.67. The company has a market cap of $274.45 million, a price-to-earnings ratio of -1.49 and a beta of 1.88.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.14. The company had revenue of $6.77 million during the quarter, compared to analysts' expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. As a group, sell-side analysts forecast that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans raised its position in Fate Therapeutics by 24.7% in the third quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company's stock valued at $439,000 after purchasing an additional 24,804 shares during the period. Privium Fund Management B.V. purchased a new stake in Fate Therapeutics during the 3rd quarter worth $175,000. Castleview Partners LLC purchased a new position in Fate Therapeutics in the third quarter valued at about $73,000. Exchange Traded Concepts LLC grew its stake in Fate Therapeutics by 40.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company's stock valued at $148,000 after purchasing an additional 12,230 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in Fate Therapeutics during the 2nd quarter worth approximately $1,133,000. 97.54% of the stock is owned by institutional investors and hedge funds.
Fate Therapeutics Company Profile
(
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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