Fate Therapeutics’ (FATE) “Neutral” Rating Reaffirmed at Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 53.17% from the stock’s previous close.

A number of other analysts have also recently weighed in on FATE. Bank of America boosted their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Oppenheimer reissued a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. HC Wainwright reissued a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 19th. Finally, BMO Capital Markets upped their target price on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $6.73.

Fate Therapeutics Trading Down 4.4 %

NASDAQ FATE traded down $0.21 during trading on Tuesday, reaching $4.57. The company’s stock had a trading volume of 1,732,228 shares, compared to its average volume of 2,748,032. The stock has a market capitalization of $520.16 million, a PE ratio of -2.82 and a beta of 1.66. The business has a 50-day moving average price of $6.88 and a 200-day moving average price of $4.54. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The firm had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $0.85 million. During the same period in the previous year, the company earned ($0.58) earnings per share. As a group, analysts expect that Fate Therapeutics will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently made changes to their positions in FATE. National Bank of Canada FI acquired a new stake in shares of Fate Therapeutics in the 3rd quarter valued at approximately $25,000. SG Americas Securities LLC acquired a new stake in Fate Therapeutics during the 3rd quarter valued at $156,000. Exchange Traded Concepts LLC lifted its holdings in Fate Therapeutics by 85.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 21,955 shares during the last quarter. Simplicity Solutions LLC acquired a new stake in Fate Therapeutics during the 3rd quarter valued at $25,000. Finally, Brown Advisory Inc. lifted its holdings in Fate Therapeutics by 53.3% during the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 6,735 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

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.