Fate Therapeutics (NASDAQ:FATE) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.67 and traded as low as $2.51. Fate Therapeutics shares last traded at $2.55, with a volume of 1,207,521 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FATE. HC Wainwright reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.90.

Fate Therapeutics Trading Down 5.1 %

The company has a market capitalization of $275.58 million, a price-to-earnings ratio of -1.42 and a beta of 1.88. The firm’s 50-day moving average price is $3.24 and its 200 day moving average price is $3.65.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. As a group, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ausdal Financial Partners Inc. bought a new position in Fate Therapeutics during the 2nd quarter valued at $33,000. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $63,000. DRW Securities LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $71,000. Castleview Partners LLC bought a new position in Fate Therapeutics in the 3rd quarter worth approximately $73,000. Finally, Arizona State Retirement System purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $84,000. 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.