Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.75 Consensus Price Target from Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.75.

Several brokerages have 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 reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th.

Fate Therapeutics Stock Up 11.3 %

FATE opened at $2.65 on Tuesday. The stock has a market cap of $301.81 million, a PE ratio of -1.61 and a beta of 1.95. The business’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $3.44. Fate Therapeutics has a 52 week low of $1.96 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. As a group, equities analysts anticipate that Fate Therapeutics will post -1.72 earnings per share for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after buying an additional 617,644 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 219,932 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Fate Therapeutics by 1.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock worth $8,445,000 after purchasing an additional 26,399 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Fate Therapeutics by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock valued at $1,227,000 after acquiring an additional 72,139 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Fate Therapeutics by 11.0% during the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock worth $525,000 after acquiring an additional 15,825 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.