Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Rating of “Hold” from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.31.

Several equities research analysts have issued reports on the stock. Wedbush restated a “neutral” rating and set a $3.00 price objective (down from $6.00) on shares of Fate Therapeutics in a research report on Thursday, November 9th. BMO Capital Markets lifted their price objective on shares of Fate Therapeutics from $5.40 to $6.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Mizuho decreased their price objective on shares of Fate Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 20th. Morgan Stanley lowered their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Monday, November 13th. Finally, StockNews.com started coverage on Fate Therapeutics in a report on Thursday, October 5th. They issued a “hold” rating for the company.

View Our Latest Report on Fate Therapeutics

Fate Therapeutics Stock Down 2.4 %

FATE stock opened at $4.40 on Friday. The business’s fifty day moving average is $3.09 and its 200-day moving average is $2.97. The company has a market cap of $433.85 million, a P/E ratio of -2.49 and a beta of 1.66. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $7.08.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.13. The firm had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $0.99 million. Fate Therapeutics had a negative return on equity of 38.44% and a negative net margin of 163.04%. Research analysts anticipate that Fate Therapeutics will post -1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc purchased 44,630 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was bought at an average price of $3.72 per share, for a total transaction of $166,023.60. Following the purchase, the director now directly owns 13,180,388 shares in the company, valued at approximately $49,031,043.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fate Therapeutics news, General Counsel Cindy Tahl sold 10,874 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $4.37, for a total value of $47,519.38. Following the completion of the transaction, the general counsel now directly owns 142,361 shares of the company’s stock, valued at approximately $622,117.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Redmile Group, Llc acquired 44,630 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were bought at an average cost of $3.72 per share, with a total value of $166,023.60. Following the completion of the acquisition, the director now directly owns 13,180,388 shares in the company, valued at approximately $49,031,043.36. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 43,564 shares of company stock worth $190,487. Insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Large investors have recently added to or reduced their stakes in the business. Natixis purchased a new position in shares of Fate Therapeutics in the fourth quarter valued at about $29,000. Coppell Advisory Solutions Corp. bought a new stake in Fate Therapeutics during the fourth quarter worth about $42,000. Royal Bank of Canada lifted its stake in shares of Fate Therapeutics by 13.8% in the third quarter. Royal Bank of Canada now owns 4,575 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 556 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Fate Therapeutics in the first quarter worth approximately $180,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Fate Therapeutics by 48.4% in the first quarter. Baird Financial Group Inc. now owns 5,801 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,892 shares in the last quarter.

About Fate Therapeutics

(Get Free Report

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its 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; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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