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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $3.83.

FATE has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Wall Street Zen downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 28th. Robert W. Baird cut their target price on Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 14th. Finally, Barclays cut their target price on Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of FATE. Intech Investment Management LLC grew its holdings in Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 8,497 shares during the period. American Century Companies Inc. grew its holdings in Fate Therapeutics by 6.6% during the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 12,295 shares during the period. Franklin Resources Inc. lifted its position in shares of Fate Therapeutics by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 14,532 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Fate Therapeutics by 77.9% in the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 14,728 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Fate Therapeutics by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 378,619 shares of the biopharmaceutical company’s stock valued at $625,000 after acquiring an additional 16,000 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

Shares of NASDAQ:FATE opened at $1.13 on Wednesday. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $5.92. The firm has a market capitalization of $129.50 million, a P/E ratio of -0.76 and a beta of 2.18. The stock has a 50 day moving average price of $1.20 and a 200-day moving average price of $1.20.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Fate Therapeutics had a negative return on equity of 47.17% and a negative net margin of 1,318.93%. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.18 million. On average, equities analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

About Fate Therapeutics

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.