Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $5.90

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.90.

A number of equities research analysts have issued reports on FATE shares. Wells Fargo & Company upped their target price on Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $8.00 price target (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Jefferies Financial Group set a $4.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Friday, August 7th.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors have recently made changes to their positions in FATE. BlackRock Inc. bought a new position in Fate Therapeutics during the second quarter worth $19,707,000. Johnson & Johnson bought a new stake in Fate Therapeutics in the 2nd quarter valued at $9,123,473,000. Renaissance Technologies LLC boosted its holdings in Fate Therapeutics by 87.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company’s stock valued at $2,320,000 after purchasing an additional 1,098,366 shares during the period. Irenic Capital Management LP acquired a new stake in Fate Therapeutics in the 1st quarter worth $1,054,000. Finally, Two Sigma Investments LP grew its position in Fate Therapeutics by 294.4% in the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 672,352 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Price Performance

NASDAQ FATE opened at $2.57 on Thursday. Fate Therapeutics has a fifty-two week low of $0.93 and a fifty-two week high of $3.23. The stock’s 50-day moving average is $2.60 and its two-hundred day moving average is $1.94. The firm has a market cap of $307.94 million, a P/E ratio of -2.45 and a beta of 2.52.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.25). Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%.The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $1.94 million. On average, equities analysts expect that Fate Therapeutics will post -1.06 EPS for the current year.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.