Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) have received a consensus rating of "Hold" from the twelve analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.90.

Several brokerages recently commented on FATE. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Piper Sandler raised shares of Fate Therapeutics from a "neutral" rating to an "overweight" rating and raised their price target for the company from $4.00 to $6.00 in a research note on Monday, June 17th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd.

Fate Therapeutics Trading Down 1.3 %

NASDAQ:FATE traded down $0.04 on Monday, hitting $3.05. The company had a trading volume of 776,325 shares, compared to its average volume of 2,260,866. The stock has a market capitalization of $347.19 million, a price-to-earnings ratio of -1.59 and a beta of 1.83. The firm has a 50 day moving average of $3.57 and a two-hundred day moving average of $4.09. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. As a group, equities analysts forecast that Fate Therapeutics will post -1.73 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in Fate Therapeutics by 40.7% during the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company's stock worth $148,000 after buying an additional 12,230 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Fate Therapeutics in the second quarter worth $1,133,000. Doheny Asset Management CA acquired a new stake in Fate Therapeutics in the second quarter worth $263,000. Algert Global LLC grew its holdings in Fate Therapeutics by 318.4% in the second quarter. Algert Global LLC now owns 65,611 shares of the biopharmaceutical company's stock worth $215,000 after purchasing an additional 49,931 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its holdings in Fate Therapeutics by 73.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 262,414 shares of the biopharmaceutical company's stock worth $861,000 after purchasing an additional 111,293 shares during the period. Institutional investors own 97.54% of the company's stock.

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.