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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.75.

Several analysts recently weighed in on FATE shares. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Tuesday, November 12th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $1.33 on Wednesday. Fate Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $8.83. The firm has a 50 day moving average price of $1.94 and a 200 day moving average price of $2.98. The company has a market capitalization of $151.47 million, a PE ratio of -0.81 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. As a group, equities research analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insider Transactions at Fate Therapeutics

In other news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the transaction, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C lifted its position in Fate Therapeutics by 62.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after acquiring an additional 1,365,463 shares during the last quarter. Geode Capital Management LLC lifted its position in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after acquiring an additional 10,863 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Fate Therapeutics by 100.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after acquiring an additional 1,067,101 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Fate Therapeutics by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after purchasing an additional 283,080 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Fate Therapeutics in the second quarter valued at $1,799,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.