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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.58.

A number of brokerages have issued reports on FATE. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Morgan Stanley upped their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 27th. Canaccord Genuity Group decreased their price target on shares of Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 10th. BMO Capital Markets decreased their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. Vanguard Personalized Indexing Management LLC purchased a new stake in Fate Therapeutics during the third quarter valued at about $30,000. Epiq Partners LLC purchased a new stake in Fate Therapeutics during the fourth quarter valued at about $38,000. RPO LLC purchased a new stake in Fate Therapeutics during the fourth quarter valued at about $46,000. Victory Capital Management Inc. boosted its position in Fate Therapeutics by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 2,322 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Fate Therapeutics by 1,069.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 15,400 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $3.61 on Tuesday. The company’s fifty day simple moving average is $4.26 and its two-hundred day simple moving average is $5.01. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The stock has a market capitalization of $410.93 million, a price-to-earnings ratio of -1.88 and a beta of 1.90.

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