Fate Therapeutics (NASDAQ:FATE) Earns “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note published on Tuesday, Benzinga reports. Wedbush currently has a $7.00 price target on the biopharmaceutical company’s stock.

FATE has been the subject of a number of other reports. BMO Capital Markets boosted their price objective on Fate Therapeutics from $6.00 to $7.00 and gave the company a market perform rating in a research note on Tuesday, February 27th. Needham & Company LLC reiterated a hold rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Bank of America boosted their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the company an underperform rating in a research note on Thursday, March 28th. Oppenheimer reiterated a market perform rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. Finally, HC Wainwright reissued a neutral rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $6.73.

Fate Therapeutics Stock Down 1.8 %

Fate Therapeutics stock opened at $3.80 on Tuesday. The business has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $4.56. The company has a market cap of $432.52 million, a P/E ratio of -2.32 and a beta of 1.66. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. The business had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period in the previous year, the company posted ($0.58) EPS. Research analysts anticipate that Fate Therapeutics will post -1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new stake in shares of Fate Therapeutics during the 3rd quarter worth approximately $25,000. SG Americas Securities LLC bought a new position in shares of Fate Therapeutics during the 3rd quarter valued at approximately $156,000. Exchange Traded Concepts LLC increased its position in shares of Fate Therapeutics by 85.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 21,955 shares during the last quarter. Simplicity Solutions LLC bought a new position in shares of Fate Therapeutics during the 3rd quarter valued at approximately $25,000. Finally, Brown Advisory Inc. increased its position in shares of Fate Therapeutics by 53.3% during the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 6,735 shares during the last quarter. 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.