Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.75.

FATE has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 219,932 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $1,133,000. Vanguard Group Inc. lifted its stake in Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Fate Therapeutics by 62.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock worth $11,663,000 after purchasing an additional 1,365,463 shares during the period. Finally, Integral Health Asset Management LLC increased its stake in Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after purchasing an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 6.6 %

FATE stock opened at $2.96 on Tuesday. The stock has a market capitalization of $337.11 million, a price-to-earnings ratio of -1.79 and a beta of 1.88. Fate Therapeutics has a 52-week low of $1.96 and a 52-week high of $8.83. The stock’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $3.48.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. As a group, analysts anticipate that Fate Therapeutics will post -1.72 earnings per share for the current fiscal year.

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.