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

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have given 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.

Several equities research analysts have recently weighed in on FATE shares. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th.

Insider Activity at Fate Therapeutics

In related news, Director Redmile Group, Llc purchased 397,964 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at $63,000. DRW Securities LLC acquired a new stake in Fate Therapeutics in the second quarter worth about $71,000. Castleview Partners LLC bought a new stake in Fate Therapeutics during the 3rd quarter worth about $73,000. SG Americas Securities LLC lifted its position in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $108,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

FATE opened at $1.32 on Wednesday. Fate Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $8.83. The company has a market capitalization of $150.33 million, a P/E ratio of -0.80 and a beta of 2.02. The firm’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $3.02.

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, beating the consensus estimate 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 business had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. On average, equities research analysts expect that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Fate Therapeutics Company Profile

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.