Fate Therapeutics (NASDAQ:FATE) Stock Rating Lowered by Wall Street Zen

Fate Therapeutics (NASDAQ:FATE) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other brokerages have also commented on FATE. Robert W. Baird cut their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 14th. Barclays cut their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.83.

Fate Therapeutics Trading Up 1.6%

Shares of FATE opened at $0.94 on Friday. Fate Therapeutics has a twelve month low of $0.66 and a twelve month high of $4.20. The firm’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.15. The firm has a market capitalization of $107.23 million, a price-to-earnings ratio of -0.63 and a beta of 2.24.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in Fate Therapeutics by 6.6% in 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. increased its stake in 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 purchasing an additional 14,532 shares during the period. ProShare Advisors LLC increased its stake in 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 purchasing an additional 14,728 shares during the period. Renaissance Technologies LLC increased its stake in 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 purchasing an additional 16,000 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Fate Therapeutics by 22.0% in the fourth quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 19,706 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.