Fate Therapeutics (NASDAQ:FATE) Rating Increased to Neutral at Bank of America

Fate Therapeutics (NASDAQ:FATE) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Monday,Briefing.com Automated Import reports.

Other equities research analysts have also issued reports about the company. HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 target price 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 note on Wednesday, November 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fate Therapeutics presently has an average rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Price Performance

NASDAQ:FATE traded up $0.25 during mid-day trading on Monday, reaching $2.27. The company’s stock had a trading volume of 24,699,400 shares, compared to its average volume of 2,273,450. The company’s fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $3.58. The stock has a market cap of $258.54 million, a P/E ratio of -1.38 and a beta of 1.88. Fate Therapeutics has a twelve month low of $1.96 and a twelve month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced 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. The business had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Sell-side analysts expect that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ausdal Financial Partners Inc. acquired a new stake in Fate Therapeutics during the 2nd quarter worth about $33,000. Dark Forest Capital Management LP bought a new position in shares of Fate Therapeutics during 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 Fate Therapeutics during the 2nd quarter valued at $84,000. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

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.