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

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given an average rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.1250.

FATE has been the topic of a number of research reports. Weiss Ratings upgraded Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Jefferies Financial Group set a $4.00 target price on Fate Therapeutics in a report on Tuesday, May 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Fate Therapeutics in a report on Monday.

Insider Buying and Selling

In other Fate Therapeutics news, insider Cindy Tahl sold 25,590 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the sale, the insider owned 628,155 shares in the company, valued at approximately $1,180,931.40. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently bought and sold shares of the stock. Savant Capital LLC grew its holdings in Fate Therapeutics by 48.6% during the 3rd quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 11,763 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the last quarter. SG Americas Securities LLC grew its holdings in Fate Therapeutics by 161.2% during the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 24,013 shares during the last quarter. Bank of America Corp DE grew its holdings in Fate Therapeutics by 20.0% during the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 24,423 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Fate Therapeutics during the second quarter worth $28,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Trading Down 1.6%

Shares of FATE stock opened at $1.87 on Friday. The company has a market cap of $217.97 million, a price-to-earnings ratio of -1.72 and a beta of 2.53. The stock has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $1.38. Fate Therapeutics has a 12-month low of $0.91 and a 12-month high of $2.88.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $1.30 million for 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, equities analysts forecast that Fate Therapeutics will post -1.03 earnings per share for the current fiscal year.

Fate Therapeutics Company Profile

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.