Fate Therapeutics (NASDAQ:FATE) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $1.97 and traded as low as $1.82. Fate Therapeutics shares last traded at $1.85, with a volume of 2,810,973 shares.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FATE shares. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Wedbush reaffirmed an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a report on Friday, August 7th. Finally, Wells Fargo & Company upped their target price on Fate Therapeutics from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.90.

Fate Therapeutics Stock Down 11.5%

The firm has a 50-day moving average of $2.25 and a two-hundred day moving average of $1.97. The stock has a market capitalization of $221.67 million, a price-to-earnings ratio of -1.76 and a beta of 2.65.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. The firm had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.14 million. As a group, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Callan Family Office LLC acquired a new position in Fate Therapeutics in the 2nd quarter valued at approximately $29,000. Bank of New York Mellon Corp purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $31,000. HB Wealth Management LLC purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $31,000. Focus Partners Advisor Solutions LLC purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $32,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $35,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate’s pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.