Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.90.

A number of equities analysts recently weighed in on FATE shares. HC Wainwright restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. Finally, Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.00 to $6.00 in a report on Monday, June 17th.

Fate Therapeutics Stock Down 3.0 %

NASDAQ FATE opened at $3.88 on Thursday. Fate Therapeutics has a 12-month low of $1.63 and a 12-month high of $8.83. The company has a market capitalization of $441.67 million, a PE ratio of -2.02 and a beta of 1.84. The firm’s 50 day moving average is $4.02 and its 200-day moving average is $4.60.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.14. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. The company had revenue of $6.77 million for the quarter, compared to the consensus estimate of $1.47 million. As a group, sell-side analysts expect that Fate Therapeutics will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently modified their holdings of FATE. Ausdal Financial Partners Inc. bought a new stake in shares of Fate Therapeutics in the second quarter valued at about $33,000. RPO LLC bought a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $46,000. Victory Capital Management Inc. boosted its position in shares of Fate Therapeutics by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 2,322 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the second quarter valued at about $63,000. Finally, DRW Securities LLC bought a new stake in shares of Fate Therapeutics in the second quarter valued at about $71,000. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.