Fate Therapeutics (NASDAQ:FATE) Shares Up 8.4%

Fate Therapeutics, Inc. (NASDAQ:FATE) rose 8.4% on Tuesday . The company traded as high as $4.56 and last traded at $4.54. Approximately 366,590 shares were traded during trading, a decline of 86% from the average daily volume of 2,570,805 shares. The stock had previously closed at $4.19.

Analyst Ratings Changes

FATE has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, May 10th. HC Wainwright lowered their target price on Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Canaccord Genuity Group cut their price target on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Price Performance

The company’s 50-day moving average price is $3.95 and its two-hundred day moving average price is $5.16. The company has a market capitalization of $412.07 million, a price-to-earnings ratio of -1.89 and a beta of 1.90.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.47). Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $0.80 million. During the same period last year, the business posted ($0.19) EPS. On average, equities research analysts expect that Fate Therapeutics, Inc. will post -1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FATE. Nisa Investment Advisors LLC lifted its position in shares of Fate Therapeutics by 1,069.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 15,400 shares during the period. Cerity Partners LLC bought a new stake in Fate Therapeutics in the fourth quarter valued at $120,000. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Fate Therapeutics by 100.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 32,184 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 16,092 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Fate Therapeutics by 34.0% during the 4th quarter. Russell Investments Group Ltd. now owns 233,748 shares of the biopharmaceutical company’s stock worth $874,000 after purchasing an additional 59,267 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of 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 purchasing an additional 2,322 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

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.