Fate Therapeutics (NASDAQ:FATE) Given “Neutral” Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report report published on Tuesday,RTT News reports. Wedbush currently has a $5.00 price target on the biopharmaceutical company’s stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($1.68) EPS, Q1 2025 earnings at ($0.49) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.38) EPS, FY2025 earnings at ($1.60) EPS, FY2026 earnings at ($1.33) EPS, FY2027 earnings at ($1.23) EPS and FY2028 earnings at ($1.09) EPS.

Several other equities analysts have also recently weighed in on FATE. HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Price Performance

Shares of FATE traded down $0.06 during trading hours on Tuesday, hitting $2.02. The stock had a trading volume of 287,586 shares, compared to its average volume of 2,165,710. The firm has a 50 day simple moving average of $3.14 and a 200-day simple moving average of $3.60. The firm has a market capitalization of $230.04 million, a P/E ratio of -1.26 and a beta of 1.88. Fate Therapeutics has a 1-year low of $1.97 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Equities analysts predict that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently modified their holdings of FATE. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $33,000. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $63,000. DRW Securities LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $71,000. Castleview Partners LLC bought a new stake in shares of Fate Therapeutics in the 3rd quarter worth approximately $73,000. Finally, Arizona State Retirement System bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $84,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.