Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Average Recommendation of “Hold” from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.75.

FATE has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th.

Insider Transactions at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of Fate Therapeutics stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C raised its position in shares of Fate Therapeutics by 62.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after buying an additional 1,365,463 shares in the last quarter. Geode Capital Management LLC raised its position in Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Fate Therapeutics by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after purchasing an additional 1,067,101 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Fate Therapeutics by 17.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock worth $6,587,000 after purchasing an additional 294,738 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after purchasing an additional 283,080 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $1.80 on Friday. The stock has a market cap of $205.01 million, a P/E ratio of -1.09 and a beta of 2.02. The stock’s fifty day moving average is $2.25 and its 200 day moving average is $3.19. Fate Therapeutics has a one year low of $1.55 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Analysts predict that Fate Therapeutics will post -1.72 EPS for the current year.

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.