Fate Therapeutics (NASDAQ:FATE) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Fate Therapeutics, Inc. (NASDAQ:FATE) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.19 and traded as low as $1.10. Fate Therapeutics shares last traded at $1.13, with a volume of 843,129 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $4.10.

Fate Therapeutics Price Performance

The firm has a market capitalization of $144.16 million, a price-to-earnings ratio of -1.08 and a beta of 2.23. The business’s 50-day moving average price is $1.26 and its 200 day moving average price is $1.19.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.27). The business had revenue of $1.37 million during the quarter, compared to analyst estimates of $1.20 million. Fate Therapeutics had a negative net margin of 2,051.08% and a negative return on equity of 55.02%. As a group, sell-side analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Savant Capital LLC lifted its holdings in shares of Fate Therapeutics by 48.6% in the third quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 11,763 shares in the last quarter. Russell Investments Group Ltd. raised its position in Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. CWM LLC raised its position in Fate Therapeutics by 33.7% during the third quarter. CWM LLC now owns 66,093 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 16,655 shares during the period. SG Americas Securities LLC lifted its stake in Fate Therapeutics by 161.2% in the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 24,013 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Fate Therapeutics by 20.0% in the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 24,423 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.