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

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

Several brokerages have recently issued reports on FATE. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note 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 restated a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. Wedbush raised 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors have recently bought and sold shares of FATE. Invesco Ltd. boosted its stake in shares of Fate Therapeutics by 96.0% during the 1st quarter. Invesco Ltd. now owns 213,503 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 104,569 shares during the period. Comerica Bank raised its holdings in shares of Fate Therapeutics by 55,698.6% during the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 81,877 shares in the last quarter. AQR Capital Management LLC boosted its position in Fate Therapeutics by 296.4% during the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after purchasing an additional 437,423 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Fate Therapeutics by 38.8% during 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 last quarter. Finally, Jane Street Group LLC grew its stake in Fate Therapeutics by 106.9% in 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. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $1.05 on Wednesday. Fate Therapeutics has a 1 year low of $0.66 and a 1 year high of $1.94. The stock has a fifty day moving average price of $1.05 and a two-hundred day moving average price of $1.13. The stock has a market capitalization of $121.12 million, a price-to-earnings ratio of -0.80 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share 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 firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.63 million. On average, analysts predict that Fate Therapeutics will post -1.63 EPS for the current 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.