Fate Therapeutics’ (FATE) “Neutral” Rating Reiterated at Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $5.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 110.08% from the company’s current price.

Several other analysts have also commented on FATE. HC Wainwright reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Fate Therapeutics currently has an average rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Stock Down 7.0 %

FATE stock traded down $0.18 during trading on Tuesday, hitting $2.38. 1,117,163 shares of the company’s stock traded hands, compared to its average volume of 2,177,923. The business has a fifty day simple moving average of $3.20 and a two-hundred day simple moving average of $3.62. The firm has a market capitalization of $271.03 million, a P/E ratio of -1.39 and a beta of 1.88. Fate Therapeutics has a 1 year low of $1.94 and a 1 year high of $8.83.

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 firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. On average, equities research analysts predict that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds have recently made changes to their positions in the company. Ausdal Financial Partners Inc. acquired a new position in Fate Therapeutics in the 2nd quarter worth approximately $33,000. Dark Forest Capital Management LP acquired a new stake in shares of Fate Therapeutics in the second quarter worth $63,000. DRW Securities LLC purchased a new position in shares of Fate Therapeutics during the second quarter worth $71,000. Castleview Partners LLC acquired a new position in Fate Therapeutics during the third quarter valued at $73,000. Finally, Arizona State Retirement System purchased a new stake in Fate Therapeutics in the second quarter valued at $84,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.