Fate Therapeutics, Inc. (NASDAQ:FATE) Stock Has Average Target Price of $5.90

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.90.

Several research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research note on Friday, August 14th. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Finally, Wells Fargo & Company upped their target price on shares of Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research note on Friday, August 14th.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $2.18 on Friday. The stock’s fifty day moving average is $2.46 and its two-hundred day moving average is $2.19. The company has a market capitalization of $261.21 million, a PE ratio of -2.08 and a beta of 2.52. Fate Therapeutics has a 52 week low of $0.95 and a 52 week high of $3.23.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.25). The business had revenue of $2.08 million for the quarter, compared to analyst estimates of $1.94 million. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. As a group, research analysts anticipate that Fate Therapeutics will post -1.03 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Large investors have recently modified their holdings of the company. Callan Family Office LLC bought a new stake in Fate Therapeutics during the 2nd quarter valued at $29,000. Bank of New York Mellon Corp purchased a new stake in shares of Fate Therapeutics in the 2nd quarter worth $31,000. HB Wealth Management LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter worth $31,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter worth $32,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Fate Therapeutics during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company uses its induced pluripotent stem cell (iPSC) platform to create standardized, “off-the-shelf” immune cells that can be manufactured in advance and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cells and T cells, including genetically engineered cells designed to recognize and attack specific cancer targets.