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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.50.

FATE has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th.

Fate Therapeutics Trading Up 5.2 %

FATE opened at $1.01 on Thursday. The company has a market cap of $115.74 million, a P/E ratio of -0.61 and a beta of 2.26. The company’s 50 day moving average is $1.32 and its 200-day moving average is $2.30. Fate Therapeutics has a 1-year low of $0.87 and a 1-year high of $7.98.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.86 million for the quarter, compared to analyst estimates of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, equities analysts forecast that Fate Therapeutics will post -1.63 EPS for the current year.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Intech Investment Management LLC increased its holdings 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 valued at $65,000 after acquiring an additional 8,497 shares in the last quarter. SG Americas Securities LLC increased its stake 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 in the last quarter. Geode Capital Management LLC raised its holdings in Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after buying an additional 10,863 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Fate Therapeutics by 6.6% in the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after buying an additional 12,295 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Fate Therapeutics by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 14,532 shares during the last quarter. 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.