HC Wainwright Lowers Fate Therapeutics (NASDAQ:FATE) Price Target to $5.00

Fate Therapeutics (NASDAQ:FATEFree Report) had its price objective reduced by HC Wainwright from $7.00 to $5.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other research analysts have also commented on the stock. Needham & Company LLC reiterated a hold rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Piper Sandler lowered their target price on Fate Therapeutics from $7.00 to $4.00 and set a neutral rating on the stock in a research note on Friday, May 10th. StockNews.com cut Fate Therapeutics from a hold rating to a sell rating in a report on Friday, May 10th. Canaccord Genuity Group decreased their price objective on Fate Therapeutics from $11.00 to $9.00 and set a buy rating on the stock in a report on Friday, May 10th. Finally, Barclays increased their price objective on Fate Therapeutics from $6.00 to $10.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics has a consensus rating of Hold and a consensus price target of $6.58.

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Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $3.90 on Thursday. The stock has a market capitalization of $443.94 million, a PE ratio of -2.03 and a beta of 1.80. The stock has a 50 day moving average price of $5.67 and a 200 day moving average price of $4.82. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, hitting analysts’ consensus estimates of ($0.47). The firm had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same period in the previous year, the business posted ($0.19) earnings per share. As a group, research analysts forecast that Fate Therapeutics will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in Fate Therapeutics in the 3rd quarter valued at approximately $25,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Fate Therapeutics during the third quarter worth $30,000. Epiq Partners LLC bought a new position in shares of Fate Therapeutics in the 4th quarter valued at $38,000. RPO LLC acquired a new stake in shares of Fate Therapeutics during the 4th quarter valued at $46,000. Finally, Victory Capital Management Inc. grew its position in Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 2,322 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

About Fate Therapeutics

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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.

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