Fate Therapeutics (NASDAQ:FATE) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report sent to investors on Tuesday,RTT News reports. They currently have a $5.00 price target on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. HC Wainwright restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Stock Down 7.0 %

Shares of NASDAQ FATE opened at $2.38 on Tuesday. The stock has a market capitalization of $271.03 million, a price-to-earnings ratio of -1.39 and a beta of 1.88. Fate Therapeutics has a 52 week low of $1.94 and a 52 week high of $8.83. The firm has a 50-day moving average price of $3.20 and a 200 day moving average price of $3.62.

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

Institutional Trading of Fate Therapeutics

Several large investors have recently bought and sold shares of FATE. Vanguard Group Inc. boosted its stake in shares of Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. Deerfield Management Company L.P. Series C boosted its position in Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after buying an additional 1,365,463 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Fate Therapeutics by 1.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock valued at $8,445,000 after acquiring an additional 26,399 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fate Therapeutics by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after acquiring an additional 1,067,101 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Fate Therapeutics by 17.2% in the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock worth $6,587,000 after acquiring an additional 294,738 shares in the last quarter. 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.