Wedbush Reaffirms Neutral Rating for Fate Therapeutics (NASDAQ:FATE)

Wedbush reissued their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report issued on Tuesday, Benzinga reports. Wedbush currently has a $7.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Barclays raised their price objective on shares of Fate Therapeutics from $6.00 to $10.00 and gave the company an overweight rating in a report on Tuesday, February 27th. HC Wainwright reiterated a neutral rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, March 19th. Bank of America raised their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an underperform rating in a report on Thursday, March 28th. Needham & Company LLC reiterated a hold rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Finally, Oppenheimer reiterated a market perform rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $6.73.

Fate Therapeutics Trading Down 1.8 %

FATE opened at $3.80 on Tuesday. The company’s 50 day moving average is $6.73 and its 200-day moving average is $4.56. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83. The company has a market cap of $432.52 million, a P/E ratio of -2.32 and a beta of 1.66.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The company had revenue of $1.68 million for the quarter, compared to the consensus estimate of $0.85 million. During the same period last year, the company posted ($0.58) EPS. On average, equities analysts forecast that Fate Therapeutics will post -1.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FATE. National Bank of Canada FI bought a new position in Fate Therapeutics during the 3rd quarter worth approximately $25,000. SG Americas Securities LLC bought a new stake in shares of Fate Therapeutics in the 3rd quarter valued at $156,000. Exchange Traded Concepts LLC increased its stake in shares of Fate Therapeutics by 85.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 21,955 shares in the last quarter. Simplicity Solutions LLC bought a new stake in shares of Fate Therapeutics in the 3rd quarter valued at $25,000. Finally, Brown Advisory Inc. increased its stake in shares of Fate Therapeutics by 53.3% in the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 6,735 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.