Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $5.90

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.90.

A number of equities research analysts have weighed in on FATE shares. Wells Fargo & Company raised their target price on Fate Therapeutics from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 14th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a report on Monday, June 8th. Piper Sandler reissued an “overweight” rating and set a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Friday, August 14th.

Fate Therapeutics Stock Performance

FATE opened at $2.53 on Monday. Fate Therapeutics has a 52-week low of $0.94 and a 52-week high of $3.23. The firm has a market cap of $303.14 million, a P/E ratio of -2.41 and a beta of 2.54. The business’s fifty day moving average is $2.55 and its 200-day moving average is $2.07.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) EPS for the quarter, meeting analysts’ consensus estimates of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The business had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. On average, research analysts predict that Fate Therapeutics will post -1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Callan Family Office LLC acquired a new position in shares of Fate Therapeutics during the second quarter worth $29,000. Bank of New York Mellon Corp acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $31,000. HB Wealth Management LLC bought a new stake in Fate Therapeutics during the 2nd quarter worth $31,000. Focus Partners Advisor Solutions LLC bought a new stake in Fate Therapeutics during the 2nd quarter worth $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Fate Therapeutics in the 2nd quarter worth about $35,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses its induced pluripotent stem cell (iPSC) platform to produce potentially off-the-shelf immune-cell therapies designed to be manufactured at scale and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cell and T-cell therapies. Notable candidates have included FT596, an iPSC-derived NK-cell therapy, and FT819, an iPSC-derived T-cell therapy targeting CD19.