Needham & Company LLC Reiterates Hold Rating for Fate Therapeutics (NASDAQ:FATE)

Needham & Company LLC reiterated their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note released on Wednesday, Benzinga reports.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets decreased their price target on Fate Therapeutics from $7.00 to $6.00 and set a market perform rating for the company in a report on Friday, May 10th. Wedbush reiterated a neutral rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Monday, May 6th. HC Wainwright cut their price target on shares of Fate Therapeutics from $7.00 to $5.00 and set a neutral rating on the stock in a report on Thursday, May 16th. StockNews.com lowered shares of Fate Therapeutics from a hold rating to a sell rating in a research note on Friday, May 10th. Finally, Piper Sandler upgraded Fate Therapeutics from a neutral rating to an overweight rating and boosted their target price for the stock from $4.00 to $6.00 in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $6.73.

Fate Therapeutics Trading Up 0.3 %

Fate Therapeutics stock opened at $3.40 on Wednesday. The firm has a market capitalization of $387.03 million, a price-to-earnings ratio of -1.77 and a beta of 1.90. The firm’s fifty day moving average price is $3.91 and its two-hundred day moving average price is $5.09. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.14. The business had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. On average, research analysts forecast that Fate Therapeutics will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 2,322 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Fate Therapeutics by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock valued at $548,000 after purchasing an additional 5,605 shares during the period. Doheny Asset Management CA purchased a new stake in Fate Therapeutics during the 2nd quarter worth about $263,000. Ausdal Financial Partners Inc. bought a new position in Fate Therapeutics in the 2nd quarter worth about $33,000. Finally, Simplicity Wealth LLC purchased a new position in Fate Therapeutics during the 1st quarter valued at about $81,000. 97.54% of the stock is owned by 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.