Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $6.58

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given an average recommendation of “Hold” by the fourteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.58.

FATE has been the topic of a number of recent analyst reports. Bank of America increased their price target on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Morgan Stanley increased their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 27th. Piper Sandler cut their target price on Fate Therapeutics from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Canaccord Genuity Group cut their target price on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, May 6th.

Institutional Trading of Fate Therapeutics

Large investors have recently modified their holdings of the business. Fox Run Management L.L.C. acquired a new stake in shares of Fate Therapeutics during the third quarter valued at about $25,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Fate Therapeutics during the third quarter worth about $30,000. Epiq Partners LLC bought a new position in shares of Fate Therapeutics during the fourth quarter worth about $38,000. RPO LLC bought a new position in shares of Fate Therapeutics during the fourth quarter worth about $46,000. Finally, Victory Capital Management Inc. lifted its position in shares of Fate Therapeutics by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 2,322 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics Stock Performance

FATE stock opened at $3.43 on Friday. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The stock’s 50 day moving average price is $5.36 and its 200 day moving average price is $4.84. The firm has a market cap of $390.44 million, a P/E ratio of -1.79 and a beta of 1.80.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.47). Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. The company had revenue of $1.93 million for the quarter, compared to analyst estimates of $0.80 million. During the same quarter in the prior year, the company posted ($0.19) EPS. On average, research analysts predict that Fate Therapeutics will post -1.9 earnings per share for the current 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.