Fate Therapeutics (NASDAQ:FATE) Stock Crosses Below 200 Day Moving Average of $5.07

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.07 and traded as low as $3.25. Fate Therapeutics shares last traded at $3.26, with a volume of 1,606,233 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on FATE. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. StockNews.com cut Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Canaccord Genuity Group cut their price objective on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Wedbush reissued a “neutral” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Trading Down 12.4 %

The business has a 50-day moving average price of $3.87 and a 200 day moving average price of $5.07. The stock has a market cap of $371.09 million, a PE ratio of -1.70 and a beta of 1.90.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.47). The business had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, equities analysts predict that Fate Therapeutics, Inc. will post -1.9 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Epiq Partners LLC purchased a new stake in Fate Therapeutics during the 4th quarter worth about $38,000. Simplicity Wealth LLC purchased a new stake in Fate Therapeutics during the 1st quarter worth about $81,000. RPO LLC purchased a new stake in Fate Therapeutics during the 4th quarter worth about $46,000. Victory Capital Management Inc. increased its stake in Fate Therapeutics by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 2,322 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Fate Therapeutics by 1,069.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 15,400 shares during the last quarter. Hedge funds and other 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.