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

Needham & Company LLC restated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Thursday morning,Benzinga reports.

Several other brokerages have also recently issued reports on FATE. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, StockNews.com upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fate Therapeutics presently has an average rating of “Hold” and a consensus price target of $5.50.

Fate Therapeutics Trading Down 2.9 %

Shares of NASDAQ:FATE opened at $1.01 on Thursday. Fate Therapeutics has a twelve month low of $0.88 and a twelve month high of $8.74. The company has a market cap of $115.74 million, a PE ratio of -0.61 and a beta of 2.26. The company’s 50 day moving average is $1.36 and its 200 day moving average is $2.36.

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, topping analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.86 million for the quarter, compared to analyst estimates of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Equities research analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Redmile Group, Llc bought 397,964 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Vestal Point Capital LP increased its stake in Fate Therapeutics by 46.3% during the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock worth $4,067,000 after buying an additional 780,000 shares in the last quarter. Squarepoint Ops LLC raised its stake in Fate Therapeutics by 154.2% in the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 20,805 shares during the last quarter. Tang Capital Management LLC lifted its holdings in Fate Therapeutics by 165.1% in the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock valued at $3,062,000 after purchasing an additional 1,155,954 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in Fate Therapeutics during the 4th quarter worth $655,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fate Therapeutics during the 4th quarter worth $55,000. 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.