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

Needham & Company LLC reissued their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report published on Wednesday,Benzinga reports.

Several other equities analysts have also recently issued reports on FATE. HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Stock Performance

Shares of NASDAQ:FATE opened at $2.02 on Wednesday. Fate Therapeutics has a one year low of $1.96 and a one year high of $8.83. The stock has a market capitalization of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88. The company has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $3.59.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. 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 $3.07 million for the quarter, compared to analysts’ expectations of $0.88 million. As a group, research analysts forecast that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FATE. Geode Capital Management LLC increased its stake in Fate Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares in the last quarter. Barclays PLC grew its holdings in Fate Therapeutics by 245.3% in the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after purchasing an additional 301,389 shares during the last quarter. Walleye Capital LLC increased its position in shares of Fate Therapeutics by 263.5% in the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 49,009 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after buying an additional 161,776 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Fate Therapeutics by 25.9% in the 3rd quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 46,892 shares in the last quarter. 97.54% of the stock is currently 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.