Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $3.30 Average Price Target from Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given a consensus rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $3.30.

FATE has been the subject of several research reports. Wall Street Zen upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 18th. Wells Fargo & Company decreased their target price on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Saturday.

Fate Therapeutics Stock Up 8.6%

FATE opened at $1.65 on Friday. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $3.50. The company has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.18. The company has a market cap of $190.29 million, a P/E ratio of -1.14 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.16 million. Research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FATE. Acadian Asset Management LLC boosted its stake in shares of Fate Therapeutics by 67.8% in the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock valued at $1,952,000 after purchasing an additional 999,773 shares during the period. Monaco Asset Management SAM boosted its stake in shares of Fate Therapeutics by 250.9% in the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company’s stock valued at $908,000 after purchasing an additional 822,037 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Fate Therapeutics by 38.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock valued at $1,741,000 after purchasing an additional 616,336 shares during the period. AQR Capital Management LLC raised its holdings in Fate Therapeutics by 296.4% in the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after acquiring an additional 437,423 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Fate Therapeutics by 631.4% in the second quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company’s stock valued at $522,000 after acquiring an additional 402,129 shares in the last quarter. 97.54% of the stock is currently 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.