Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.73 Consensus Target Price from Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.73.

Several brokerages have commented on FATE. Barclays raised their price objective on Fate Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Bank of America lifted their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Finally, BMO Capital Markets upped their price target on Fate Therapeutics from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 27th.

Fate Therapeutics Trading Down 5.3 %

Shares of NASDAQ FATE opened at $4.30 on Monday. The firm has a fifty day simple moving average of $6.84 and a two-hundred day simple moving average of $4.56. The firm has a market capitalization of $489.41 million, a PE ratio of -2.62 and a beta of 1.66. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $0.85 million. During the same period last year, the business posted ($0.58) earnings per share. On average, sell-side analysts predict that Fate Therapeutics will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors have recently modified their holdings of the business. National Bank of Canada FI purchased a new stake in shares of Fate Therapeutics during the 3rd quarter valued at about $25,000. SG Americas Securities LLC purchased a new stake in Fate Therapeutics in the third quarter worth approximately $156,000. Exchange Traded Concepts LLC boosted its holdings in Fate Therapeutics by 85.7% in the third quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 21,955 shares during the last quarter. Simplicity Solutions LLC bought a new stake in Fate Therapeutics in the 3rd quarter worth approximately $25,000. Finally, Brown Advisory Inc. raised its stake in Fate Therapeutics by 53.3% during the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 6,735 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.