Fate Therapeutics’ (FATE) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has a $7.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on FATE. BMO Capital Markets increased their price target on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a market perform rating in a report on Tuesday, February 27th. Morgan Stanley increased their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an equal weight rating in a report on Tuesday, February 27th. Needham & Company LLC restated a hold rating on shares of Fate Therapeutics in a report on Thursday, April 11th. HC Wainwright restated a neutral rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Tuesday, March 19th. Finally, Bank of America raised their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the stock an underperform rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $6.73.

Fate Therapeutics Stock Down 10.0 %

Shares of NASDAQ FATE opened at $3.87 on Tuesday. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The company has a 50 day simple moving average of $6.80 and a two-hundred day simple moving average of $4.56.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.85 million. During the same quarter in the prior year, the company posted ($0.58) earnings per share. Analysts predict that Fate Therapeutics will post -1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FATE. National Bank of Canada FI purchased a new position in shares of Fate Therapeutics during the 3rd quarter worth $25,000. SG Americas Securities LLC purchased a new position in shares of Fate Therapeutics during the 3rd quarter worth $156,000. Exchange Traded Concepts LLC boosted its stake in shares of Fate Therapeutics by 85.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 21,955 shares during the last quarter. Simplicity Solutions LLC bought a new stake in shares of Fate Therapeutics during the 3rd quarter valued at $25,000. Finally, Brown Advisory Inc. raised its position in shares of 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 purchasing an additional 6,735 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.