Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) PT at $6.90

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.90.

A number of research firms have recently weighed in on FATE. HC Wainwright restated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Piper Sandler raised shares of Fate Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $6.00 in a research report on Monday, June 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently modified their holdings of the business. Doheny Asset Management CA acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $263,000. Ausdal Financial Partners Inc. acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth $33,000. Simplicity Wealth LLC acquired a new position in shares of Fate Therapeutics during the 1st quarter worth $81,000. RPO LLC acquired a new position in Fate Therapeutics in the 4th quarter worth about $46,000. Finally, Victory Capital Management Inc. increased its holdings in Fate Therapeutics by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 2,322 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Trading Down 5.9 %

Shares of Fate Therapeutics stock opened at $3.64 on Thursday. The stock has a market cap of $414.35 million, a PE ratio of -1.90 and a beta of 1.84. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83. The company’s 50-day moving average price is $4.04 and its two-hundred day moving average price is $4.50.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.14. The business had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. On average, equities analysts predict that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

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.