Needham & Company LLC Reaffirms "Hold" Rating for Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics (NASDAQ:FATE - Get Free Report)'s stock had its "hold" rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports.

FATE has been the topic of several other reports. Bank of America upgraded shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday. HC Wainwright reissued a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Finally, Wedbush restated a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of "Hold" and an average price target of $6.89.

Fate Therapeutics Trading Down 4.4 %

Shares of Fate Therapeutics stock traded down $0.10 during trading on Tuesday, hitting $2.17. 3,305,415 shares of the stock were exchanged, compared to its average volume of 2,277,829. The company has a fifty day moving average price of $3.09 and a 200-day moving average price of $3.57. The stock has a market capitalization of $247.14 million, a price-to-earnings ratio of -1.29 and a beta of 1.88. Fate Therapeutics has a 1-year low of $1.96 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Equities research analysts forecast that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position 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 buying an additional 10,863 shares during the period. Barclays PLC raised its position in shares of Fate Therapeutics by 245.3% in the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock worth $1,485,000 after acquiring an additional 301,389 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Fate Therapeutics by 263.5% in the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 49,009 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company's stock valued at $610,000 after purchasing an additional 161,776 shares in the last quarter. Finally, FMR LLC grew its stake in Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company's stock worth $798,000 after purchasing an additional 46,892 shares during the period. 97.54% of the stock is 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.