Fate Therapeutics (NASDAQ:FATE) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report issued on Monday, Marketbeat.com reports. Wedbush currently has a $7.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the company. Bank of America increased their target price on Fate Therapeutics from $2.00 to $6.00 and gave the stock an underperform rating in a research report on Thursday, March 28th. HC Wainwright reiterated a neutral rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, March 19th. Oppenheimer restated a market perform rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. BMO Capital Markets increased their price target on shares of Fate Therapeutics from $6.00 to $7.00 and gave the stock a market perform rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reissued a hold rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Fate Therapeutics currently has an average rating of Hold and a consensus target price of $6.90.

Fate Therapeutics Price Performance

Shares of FATE opened at $4.22 on Monday. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The company’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $4.70.

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

Institutional Trading of Fate Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in shares of Fate Therapeutics by 100.9% in the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 23,582 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Fate Therapeutics in the 1st quarter valued at about $432,000. Simplicity Wealth LLC acquired a new stake in shares of Fate Therapeutics during the first quarter valued at about $81,000. Assenagon Asset Management S.A. grew its stake in shares of Fate Therapeutics by 1,462.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock valued at $18,705,000 after acquiring an additional 2,385,207 shares in the last quarter. Finally, Pennant Investors LP purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $546,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.