Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Recommendation of “Hold” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.1250.

A number of brokerages have commented on FATE. Weiss Ratings raised Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a report on Tuesday, May 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Monday, June 8th.

Fate Therapeutics Trading Up 4.6%

FATE stock opened at $2.06 on Friday. The firm has a market capitalization of $240.11 million, a PE ratio of -1.89 and a beta of 2.53. Fate Therapeutics has a 1-year low of $0.91 and a 1-year high of $2.88. The business’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $1.39.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. As a group, sell-side analysts predict that Fate Therapeutics will post -1.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Fate Therapeutics news, insider Cindy Tahl sold 25,590 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the transaction, the insider directly owned 628,155 shares of the company’s stock, valued at $1,180,931.40. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC grew its holdings in Fate Therapeutics by 48.6% in the 3rd quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 11,763 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 12,114 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Fate Therapeutics by 161.2% during the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 24,013 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Fate Therapeutics by 20.0% during the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 24,423 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth $28,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile

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.