Fate Therapeutics (NASDAQ:FATE) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note issued to investors on Tuesday morning,Benzinga reports.

FATE has been the topic of several other research reports. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. HC Wainwright restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $2.29 on Tuesday. Fate Therapeutics has a one year low of $1.96 and a one year high of $8.83. The business’s fifty day moving average is $2.99 and its 200 day moving average is $3.54. The stock has a market capitalization of $260.82 million, a PE ratio of -1.39 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. As a group, sell-side analysts expect that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baker BROS. Advisors LP purchased a new stake in Fate Therapeutics during the first quarter valued at approximately $13,345,000. Deerfield Management Company L.P. Series C lifted its position 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 buying an additional 1,365,463 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in 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 worth $6,987,000 after buying an additional 1,067,101 shares during the last quarter. Integral Health Asset Management LLC increased its position 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 acquiring an additional 650,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position 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 valued at $72,747,000 after acquiring an additional 617,644 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.