Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.75.

Several research firms have recently issued reports on FATE. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th.

Fate Therapeutics Trading Down 0.7 %

Shares of FATE stock opened at $1.33 on Wednesday. The business’s fifty day simple moving average is $1.94 and its 200-day simple moving average is $2.98. Fate Therapeutics has a 12-month low of $1.04 and a 12-month high of $8.83. The company has a market cap of $151.47 million, a PE ratio of -0.81 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. On average, equities analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Fate Therapeutics

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Fate Therapeutics in the 4th quarter valued at about $40,000. Dark Forest Capital Management LP acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth approximately $63,000. DRW Securities LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth approximately $71,000. Castleview Partners LLC acquired a new stake in shares of Fate Therapeutics during the 3rd quarter worth approximately $73,000. Finally, SG Americas Securities LLC increased its holdings in shares of Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 10,511 shares during the last quarter. Institutional investors and hedge funds 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.