Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.80.

Several equities analysts recently issued reports on FATE shares. Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Wedbush reissued an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Fate Therapeutics from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Friday.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $1.83 on Tuesday. The company’s 50-day simple moving average is $2.24 and its two-hundred day simple moving average is $1.97. The company has a market capitalization of $219.87 million, a P/E ratio of -1.78 and a beta of 2.65. Fate Therapeutics has a one year low of $0.95 and a one year high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.14 million. Fate Therapeutics had a negative return on equity of 69.09% and a negative net margin of 1,941.09%. On average, research analysts expect that Fate Therapeutics will post -1.03 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Hedge funds have recently modified their holdings of the company. Callan Family Office LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $29,000. Bank of New York Mellon Corp acquired a new stake in Fate Therapeutics in the second quarter valued at approximately $31,000. HB Wealth Management LLC acquired a new stake in Fate Therapeutics in the second quarter valued at approximately $31,000. Focus Partners Advisor Solutions LLC acquired a new stake in Fate Therapeutics in the second quarter valued at approximately $32,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Fate Therapeutics in the second quarter worth $35,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

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 induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate’s pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.