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

Needham & Company LLC reiterated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE - Free Report) in a research note published on Thursday,Benzinga reports.

A number of other research analysts also recently commented on the stock. Bank of America raised shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. StockNews.com raised shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Fate Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $5.50.

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE traded down $0.08 on Thursday, reaching $0.93. The company's stock had a trading volume of 2,271,640 shares, compared to its average volume of 2,565,236. The stock's 50-day moving average is $1.36 and its two-hundred day moving average is $2.35. Fate Therapeutics has a 52-week low of $0.88 and a 52-week high of $8.44. The stock has a market capitalization of $106.21 million, a P/E ratio of -0.56 and a beta of 2.26.

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Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.13. 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 $1.86 million for the quarter, compared to analyst estimates of $1.57 million. Equities analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the purchase, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds have recently bought and sold shares of the stock. Vestal Point Capital LP boosted its holdings in shares of Fate Therapeutics by 46.3% during the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company's stock worth $4,067,000 after buying an additional 780,000 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Fate Therapeutics by 154.2% during the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company's stock valued at $57,000 after purchasing an additional 20,805 shares during the last quarter. Tang Capital Management LLC increased its holdings in Fate Therapeutics by 165.1% during 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 purchasing an additional 1,155,954 shares during the period. Sphera Funds Management LTD. purchased a new stake in Fate Therapeutics in the fourth quarter worth $655,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fate Therapeutics during the 4th quarter valued at about $55,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.