Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $4.50 Consensus PT from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.50.

FATE has been the topic of several recent research reports. Weiss Ratings raised Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. HC Wainwright boosted their price target on Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, May 4th.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors have recently made changes to their positions in FATE. Commonwealth Equity Services LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at approximately $26,000. Bridgeway Capital Management LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at approximately $28,000. Corient Private Wealth LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at approximately $29,000. The Manufacturers Life Insurance Company acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. raised its position in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 12,114 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $1.73 on Tuesday. The stock’s 50 day moving average price is $1.42 and its 200 day moving average price is $1.25. The firm has a market capitalization of $201.65 million, a PE ratio of -1.59 and a beta of 2.13. Fate Therapeutics has a one year low of $0.91 and a one year high of $2.47.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. On average, analysts forecast that Fate Therapeutics will post -1.08 earnings per share for the current fiscal year.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.