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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.75.

FATE has been the topic of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Piper Sandler upgraded shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $4.00 to $6.00 in a report on Monday. Bank of America boosted 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. BMO Capital Markets dropped their target price on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th.

View Our Latest Research Report on FATE

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Fate Therapeutics by 22.8% during the fourth 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 in the last quarter. Epiq Partners LLC bought a new stake in Fate Therapeutics in the 4th quarter worth about $38,000. Simplicity Wealth LLC bought a new stake in Fate Therapeutics in the 1st quarter worth about $81,000. RPO LLC bought a new stake in Fate Therapeutics in the 4th quarter worth about $46,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Fate Therapeutics in the 3rd quarter worth about $30,000. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Performance

Shares of NASDAQ:FATE opened at $3.57 on Tuesday. The firm has a market cap of $406.37 million, a PE ratio of -1.86 and a beta of 1.90. The firm’s fifty day moving average is $4.19 and its 200-day moving average is $5.03. 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 earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.47). The business had revenue of $1.93 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned ($0.19) earnings per share. Sell-side analysts forecast that Fate Therapeutics will post -1.9 EPS for the current year.

Fate Therapeutics Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.