Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $6.75

Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) has been given a consensus recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $6.75.

Several equities research analysts have recently commented on the stock. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th.

Get Our Latest Report on Fate Therapeutics

Fate Therapeutics Trading Down 5.1 %

NASDAQ:FATE opened at $1.30 on Wednesday. Fate Therapeutics has a 12 month low of $1.04 and a 12 month high of $8.83. The firm has a fifty day simple moving average of $1.90 and a 200-day simple moving average of $2.95. The company has a market capitalization of $148.06 million, a P/E ratio of -0.79 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATEGet Free Report) 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. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Equities analysts forecast that Fate Therapeutics will post -1.63 EPS for the current year.

Insider Buying and Selling at Fate Therapeutics

In other news, Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FATE. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth about $40,000. Dark Forest Capital Management LP purchased a new stake in shares of Fate Therapeutics during the second quarter worth about $63,000. DRW Securities LLC purchased a new stake in shares of Fate Therapeutics during the second quarter worth about $71,000. Castleview Partners LLC purchased a new stake in shares of Fate Therapeutics during the third quarter worth about $73,000. Finally, SG Americas Securities LLC increased its stake in shares of Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 10,511 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

(Get Free Report

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.

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