Fate Therapeutics, Inc. (NASDAQ:FATE – Get Free Report) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.1250.
A number of brokerages recently weighed in on FATE. Jefferies Financial Group set a $4.00 price objective on shares of Fate Therapeutics in a report on Tuesday, May 19th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Monday, June 8th. Finally, Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th.
Read Our Latest Analysis on FATE
Fate Therapeutics Stock Down 2.4%
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. Research analysts expect that Fate Therapeutics will post -1.04 EPS for the current year.
Insider Transactions at Fate Therapeutics
In related news, insider Cindy Tahl sold 25,590 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the transaction, the insider owned 628,155 shares of the company’s stock, valued at $1,180,931.40. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Fate Therapeutics
Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 12,114 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Fate Therapeutics by 161.2% in the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 24,013 shares in the last quarter. Bank of America Corp DE lifted its stake in Fate Therapeutics by 20.0% in the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 24,423 shares during the period. Bridgeway Capital Management LLC purchased a new stake in Fate Therapeutics in the second quarter worth about $28,000. Finally, Commonwealth Equity Services LLC bought a new position in Fate Therapeutics during the 4th quarter worth about $26,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
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