Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned an average rating of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.90.

A number of brokerages have issued reports on FATE. HC Wainwright reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th.

Fate Therapeutics Stock Performance

NASDAQ:FATE opened at $3.23 on Monday. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The company has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.98. The stock has a market capitalization of $367.68 million, a P/E ratio of -1.68 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Research analysts forecast that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Doheny Asset Management CA purchased a new stake in Fate Therapeutics during the 2nd quarter worth about $263,000. Ausdal Financial Partners Inc. purchased a new stake in Fate Therapeutics during the second quarter worth approximately $33,000. Dark Forest Capital Management LP acquired a new position in Fate Therapeutics in the second quarter valued at approximately $63,000. DRW Securities LLC purchased a new position in Fate Therapeutics in the second quarter valued at approximately $71,000. Finally, Arizona State Retirement System acquired a new stake in Fate Therapeutics during the second quarter worth approximately $84,000. Institutional investors and hedge funds 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.