Fate Therapeutics’ (FATE) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note released on Wednesday,Benzinga reports.

Other analysts have also issued reports about the company. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday. HC Wainwright reiterated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Price Performance

NASDAQ FATE opened at $2.02 on Wednesday. The company has a fifty day moving average price of $3.11 and a 200-day moving average price of $3.59. The firm has a market cap of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88. Fate Therapeutics has a 1 year low of $1.96 and a 1 year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. On average, research analysts anticipate that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Several large investors have recently added to or reduced their stakes in FATE. Doheny Asset Management CA bought a new position in Fate Therapeutics during the second quarter worth about $263,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $33,000. Dark Forest Capital Management LP bought a new position in Fate Therapeutics in the 2nd quarter worth approximately $63,000. Castleview Partners LLC purchased a new position in Fate Therapeutics in the 3rd quarter valued at approximately $73,000. Finally, DRW Securities LLC purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.