Fate Therapeutics (NASDAQ:FATE) Shares Pass Below 200 Day Moving Average – Time to Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.00 and traded as low as $0.68. Fate Therapeutics shares last traded at $0.68, with a volume of 2,422,838 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FATE shares. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Stifel Nicolaus cut their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. StockNews.com cut Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their price target on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $5.43.

Fate Therapeutics Trading Up 10.7 %

The firm has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.98. The company has a market capitalization of $86.28 million, a PE ratio of -0.46 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The firm had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million. On average, equities analysts expect that Fate Therapeutics, Inc. will post -1.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Graham Capital Management L.P. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $37,000. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics during the 4th quarter valued at approximately $40,000. Brevan Howard Capital Management LP purchased a new stake in Fate Therapeutics in the 4th quarter worth approximately $41,000. FPC Investment Advisory Inc. bought a new stake in shares of Fate Therapeutics in the 4th quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fate Therapeutics during the fourth quarter valued at approximately $55,000. 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.