Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.73 Consensus PT from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.73.

A number of analysts have commented on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Bank of America upped their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. HC Wainwright reiterated a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Wedbush restated a “neutral” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 27th.

Institutional Trading of Fate Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 2,322 shares during the period. Brown Advisory Inc. increased its stake in Fate Therapeutics by 53.3% in the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 6,735 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Fate Therapeutics by 15.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,299 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 7,916 shares during the period. Epiq Partners LLC purchased a new stake in Fate Therapeutics in the fourth quarter worth $38,000. Finally, Simplicity Wealth LLC purchased a new stake in Fate Therapeutics in the first quarter worth $81,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 1.8 %

FATE opened at $3.80 on Monday. The firm has a 50 day moving average price of $6.73 and a 200-day moving average price of $4.56. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $8.83. The stock has a market capitalization of $432.52 million, a price-to-earnings ratio of -2.32 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $0.85 million. During the same period in the prior year, the company earned ($0.58) earnings per share. As a group, analysts expect that Fate Therapeutics will post -1.94 earnings per share for the current year.

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.