Fate Therapeutics (NASDAQ:FATE) Earns Hold Rating from Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

A number of other analysts have also weighed in on FATE. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. StockNews.com raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Finally, Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $6.17.

Fate Therapeutics Stock Performance

Shares of FATE opened at $0.91 on Thursday. The stock has a 50-day moving average of $1.40 and a two-hundred day moving average of $2.41. The stock has a market cap of $103.09 million, a P/E ratio of -0.55 and a beta of 2.02. Fate Therapeutics has a one year low of $0.89 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, March 10th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. 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 -1.63 EPS for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the transaction, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $37,000. China Universal Asset Management Co. Ltd. purchased a new position in Fate Therapeutics in the 4th quarter valued at about $40,000. Brevan Howard Capital Management LP acquired a new stake in Fate Therapeutics in the 4th quarter worth about $41,000. FPC Investment Advisory Inc. purchased a new stake in Fate Therapeutics during the 4th quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fate Therapeutics in the fourth quarter worth about $55,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.