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

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.50.

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Stifel Nicolaus dropped their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Finally, Wells Fargo & Company dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th.

Fate Therapeutics Trading Up 2.6 %

Shares of NASDAQ FATE opened at $0.97 on Thursday. Fate Therapeutics has a 12 month low of $0.87 and a 12 month high of $7.70. The company has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $2.24. The stock has a market cap of $110.74 million, a price-to-earnings ratio of -0.59 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. The firm had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Analysts forecast that Fate Therapeutics will post -1.63 EPS for the current year.

Insider Transactions at Fate Therapeutics

In related news, Director Redmile Group, Llc bought 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $40,000. Brevan Howard Capital Management LP acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $41,000. FPC Investment Advisory Inc. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $44,000. Finally, Intech Investment Management LLC acquired a new position in shares of Fate Therapeutics during the 3rd quarter valued at $108,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.