Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.90.

FATE has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Fate Therapeutics from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 14th. Piper Sandler restated an “overweight” rating and set a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, August 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Fate Therapeutics during the second quarter worth about $19,707,000. Johnson & Johnson acquired a new stake in Fate Therapeutics during the 2nd quarter worth about $9,123,473. Irenic Capital Management LP acquired a new stake in shares of Fate Therapeutics during the 1st quarter worth approximately $1,054,000. Renaissance Technologies LLC grew its stake in shares of Fate Therapeutics by 26.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock valued at $3,570,000 after buying an additional 613,802 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fate Therapeutics in the 2nd quarter worth $1,552,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Trading Down 6.1%

Shares of Fate Therapeutics stock opened at $2.00 on Friday. The firm has a fifty day simple moving average of $2.44 and a 200-day simple moving average of $2.20. The stock has a market capitalization of $239.64 million, a price-to-earnings ratio of -1.90 and a beta of 2.52. Fate Therapeutics has a 1-year low of $0.95 and a 1-year high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.25). Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. The firm had revenue of $2.08 million during the quarter, compared to analyst estimates of $1.94 million. As a group, research analysts predict that Fate Therapeutics will post -1.03 earnings per share for the current year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.