Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Average Recommendation of “Hold” from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.75.

Several analysts have recently issued reports on FATE shares. 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. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th.

Fate Therapeutics Stock Performance

FATE stock opened at $1.61 on Friday. Fate Therapeutics has a fifty-two week low of $1.56 and a fifty-two week high of $8.83. The stock’s 50 day simple moving average is $2.38 and its 200 day simple moving average is $3.26. The company has a market cap of $183.37 million, a P/E ratio of -0.98 and a beta of 1.95.

Fate Therapeutics (NASDAQ:FATE) last issued its 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. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Equities analysts predict that Fate Therapeutics will post -1.72 earnings per share for the current year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Fate Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Deerfield Management Company L.P. Series C grew its stake in Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after buying an additional 1,365,463 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fate Therapeutics by 100.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after purchasing an additional 1,067,101 shares in the last quarter. Integral Health Asset Management LLC raised its stake in shares of Fate Therapeutics by 325.0% during the 2nd 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 period. Renaissance Technologies LLC purchased a new stake in Fate Therapeutics during the 2nd quarter worth about $1,799,000. Finally, Perceptive Advisors LLC bought a new position in Fate Therapeutics in the 2nd quarter worth about $1,133,000. 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.