Fate Therapeutics (NASDAQ:FATE) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.06 and traded as high as $1.46. Fate Therapeutics shares last traded at $1.41, with a volume of 6,309,574 shares.

Analyst Ratings Changes

Several equities analysts recently issued reports on FATE shares. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, June 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company dropped their price target on shares of Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fate Therapeutics has an average rating of “Hold” and a consensus target price of $3.30.

Fate Therapeutics Price Performance

The firm has a 50 day simple moving average of $1.06 and a two-hundred day simple moving average of $1.11. The stock has a market cap of $162.62 million, a price-to-earnings ratio of -0.97 and a beta of 2.34.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. The company had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. Fate Therapeutics had a negative return on equity of 50.95% and a negative net margin of 2,025.05%. On average, sell-side analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in shares of Fate Therapeutics by 154.2% during the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 20,805 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Fate Therapeutics by 211.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 131,830 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 89,541 shares during the period. CWM LLC lifted its holdings in Fate Therapeutics by 899.6% during the first quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 37,290 shares in the last quarter. XTX Topco Ltd grew its stake in Fate Therapeutics by 83.9% in the first quarter. XTX Topco Ltd now owns 459,308 shares of the biopharmaceutical company’s stock valued at $363,000 after acquiring an additional 209,508 shares during the period. Finally, Monaco Asset Management SAM increased its holdings in shares of Fate Therapeutics by 250.9% in the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company’s stock worth $908,000 after acquiring an additional 822,037 shares in the last quarter. Institutional investors 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.