Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.75.

FATE has been the subject of several research reports. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after buying an additional 617,644 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Fate Therapeutics by 404.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after purchasing an additional 219,932 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Fate Therapeutics by 1.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after buying an additional 26,399 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Fate Therapeutics by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock worth $1,227,000 after purchasing an additional 72,139 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Fate Therapeutics by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock worth $525,000 after acquiring an additional 15,825 shares during the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 11.3 %

Shares of FATE stock opened at $2.65 on Tuesday. The company has a market capitalization of $301.81 million, a P/E ratio of -1.61 and a beta of 1.95. Fate Therapeutics has a twelve month low of $1.96 and a twelve month high of $8.83. The business’s 50 day moving average is $2.77 and its two-hundred day moving average is $3.44.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. The business had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities analysts predict that Fate Therapeutics will post -1.72 earnings per share for the current fiscal year.

About Fate Therapeutics

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.