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

Fate Therapeutics, Inc. (NASDAQ:FATE) has received a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.75.

Several equities research analysts have issued reports on FATE shares. Wedbush reissued a “neutral” rating and issued 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.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $1.42 on Friday. The firm has a market capitalization of $161.72 million, a PE ratio of -0.86 and a beta of 2.02. The company’s fifty day moving average price is $1.49 and its two-hundred day moving average price is $2.53. Fate Therapeutics has a 52-week low of $1.04 and a 52-week high of $8.83.

Insider Activity

In other news, Director Redmile Group, Llc bought 397,964 shares of Fate Therapeutics stock in a transaction dated 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 purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP boosted its stake in shares of Fate Therapeutics by 46.3% in the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 780,000 shares in the last quarter. Squarepoint Ops LLC lifted its position in Fate Therapeutics by 154.2% during the 4th quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 20,805 shares in the last quarter. Tang Capital Management LLC lifted its position in Fate Therapeutics by 165.1% during the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock worth $3,062,000 after buying an additional 1,155,954 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in Fate Therapeutics during the 4th quarter worth about $655,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fate Therapeutics during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.