Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.75 Average PT from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month 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 a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FATE. Graham Capital Management L.P. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $37,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $40,000. Brevan Howard Capital Management LP acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $41,000. FPC Investment Advisory Inc. purchased a new position in shares of Fate Therapeutics in the 4th quarter valued at about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fate Therapeutics in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Trading Up 7.7 %

Shares of NASDAQ:FATE opened at $1.53 on Friday. Fate Therapeutics has a 12-month low of $1.04 and a 12-month high of $8.83. The business’s fifty day simple moving average is $1.51 and its 200-day simple moving average is $2.58. The company has a market capitalization of $174.25 million, a PE ratio of -0.93 and a beta of 2.02.

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.