Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Recommendation of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has received an average rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.89.

FATE has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd.

Fate Therapeutics Trading Down 4.1 %

Shares of FATE stock opened at $2.08 on Friday. The business’s 50 day moving average is $3.14 and its two-hundred day moving average is $3.60. Fate Therapeutics has a twelve month low of $2.05 and a twelve month high of $8.83. The company has a market capitalization of $236.87 million, a P/E ratio of -1.26 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. As a group, equities analysts predict that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ausdal Financial Partners Inc. acquired a new position in Fate Therapeutics during the second quarter worth $33,000. Dark Forest Capital Management LP acquired a new position in Fate Therapeutics during the second quarter worth $63,000. DRW Securities LLC acquired a new position in Fate Therapeutics during the second quarter worth $71,000. Castleview Partners LLC purchased a new position in Fate Therapeutics during the third quarter worth $73,000. Finally, Arizona State Retirement System purchased a new position in Fate Therapeutics during the second quarter worth $84,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.