Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $3.92

Fate Therapeutics, Inc. (NASDAQ:FATE) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.9167.

Several research analysts have commented on FATE shares. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $5.00 to $7.00 in a report on Monday, October 27th. Wall Street Zen downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. Finally, HC Wainwright raised shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, October 31st.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds have recently bought and sold shares of the business. Savant Capital LLC purchased a new position in Fate Therapeutics during the 2nd quarter valued at about $27,000. Bridgeway Capital Management LLC purchased a new stake in shares of Fate Therapeutics in the second quarter worth approximately $28,000. Russell Investments Group Ltd. boosted its holdings in shares of 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. SG Americas Securities LLC grew its position in Fate Therapeutics by 161.2% during the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 24,013 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Fate Therapeutics by 106.9% during the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 32,911 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Down 5.7%

FATE opened at $1.16 on Friday. The firm has a market cap of $133.81 million, a PE ratio of -0.88 and a beta of 2.24. The business has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.14. Fate Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $1.94.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The business had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.63 million. On average, equities research analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

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.