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

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $6.75.

FATE has been the subject of a number of analyst reports. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th.

Fate Therapeutics Trading Up 11.8 %

Shares of FATE opened at $1.42 on Friday. Fate Therapeutics has a 12-month low of $1.04 and a 12-month high of $8.83. The firm has a 50-day moving average price of $1.55 and a 200 day moving average price of $2.64. The firm has a market capitalization of $161.72 million, a P/E ratio of -0.86 and a beta of 2.02.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the transaction, the director now owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Fate Therapeutics

Several hedge funds have recently made changes to their positions in FATE. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth about $40,000. FPC Investment Advisory Inc. acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth about $44,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Fate Therapeutics during the fourth quarter worth about $58,000. Intech Investment Management LLC lifted its position in shares of Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 8,497 shares in the last quarter. Finally, Castleview Partners LLC acquired a new stake in shares of Fate Therapeutics during the third quarter worth about $73,000. Institutional investors and hedge funds 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.