Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Rating of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $5.1250.

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, June 8th. Jefferies Financial Group set a $4.00 price target on Fate Therapeutics in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $3.02 on Wednesday. The company has a market capitalization of $352.01 million, a price-to-earnings ratio of -2.77 and a beta of 2.51. Fate Therapeutics has a one year low of $0.91 and a one year high of $3.21. The company’s 50-day moving average is $2.17 and its 200 day moving average is $1.55.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $1.49 million. As a group, research analysts predict that Fate Therapeutics will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other news, insider Cindy Tahl sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total transaction of $48,109.20. Following the sale, the insider owned 628,155 shares of the company’s stock, valued at $1,180,931.40. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Bank of America Corp DE raised its stake in Fate Therapeutics by 24.8% during the 1st quarter. Bank of America Corp DE now owns 188,564 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 37,457 shares during the last quarter. Irenic Capital Management LP purchased a new stake in Fate Therapeutics during the first quarter valued at $1,054,000. Renaissance Technologies LLC increased its position in Fate Therapeutics by 26.0% during the first quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock valued at $3,570,000 after acquiring an additional 613,802 shares during the last quarter. Bruce & Co. Inc. lifted its holdings in Fate Therapeutics by 8.2% in the first quarter. Bruce & Co. Inc. now owns 789,188 shares of the biopharmaceutical company’s stock valued at $947,000 after acquiring an additional 60,000 shares during the period. Finally, Sei Investments Co. lifted its holdings in Fate Therapeutics by 104.9% in the first quarter. Sei Investments Co. now owns 138,580 shares of the biopharmaceutical company’s stock valued at $166,000 after acquiring an additional 70,937 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.