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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.50.

FATE has been the subject of several recent research reports. HC Wainwright boosted their price target on Fate Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings raised Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $1.76 on Tuesday. The stock has a market cap of $204.56 million, a price-to-earnings ratio of -1.61 and a beta of 2.13. The business has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.25. Fate Therapeutics has a 52 week low of $0.91 and a 52 week high of $2.47.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. On average, analysts predict that Fate Therapeutics will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in FATE. Commonwealth Equity Services LLC bought a new stake in Fate Therapeutics during the fourth quarter worth approximately $26,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics during the second quarter worth approximately $28,000. Corient Private Wealth LLC bought a new stake in Fate Therapeutics during the fourth quarter worth approximately $29,000. The Manufacturers Life Insurance Company bought a new stake in Fate Therapeutics during the fourth quarter worth approximately $35,000. Finally, Russell Investments Group Ltd. boosted its position in Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 12,114 shares during the period. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.