Fate Therapeutics (NASDAQ:FATE) Earns Hold Rating from Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating restated by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

Other analysts also recently issued reports about the company. HC Wainwright restated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.89.

Fate Therapeutics Trading Down 4.1 %

Shares of FATE stock opened at $2.08 on Wednesday. The firm has a market capitalization of $236.87 million, a price-to-earnings ratio of -1.26 and a beta of 1.88. The business’s 50-day moving average price is $3.14 and its 200-day moving average price is $3.60. Fate Therapeutics has a 12 month low of $2.05 and a 12 month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 44.88%. The business had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. On average, sell-side analysts predict that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently added to or reduced their stakes in FATE. Price T Rowe Associates Inc. MD grew its position in shares of Fate Therapeutics by 404.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after buying an additional 219,932 shares during the period. Perceptive Advisors LLC bought a new position in Fate Therapeutics during the second quarter worth $1,133,000. Vanguard Group Inc. grew its holdings in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares during the period. Deerfield Management Company L.P. Series C increased its stake in Fate Therapeutics by 62.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in shares of Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after purchasing an additional 650,000 shares during the period. 97.54% of the stock is currently owned by institutional investors.

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.