Fate Therapeutics (NASDAQ:FATE) Shares Gap Up to $5.38

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) gapped up before the market opened on Wednesday . The stock had previously closed at $5.38, but opened at $5.50. Fate Therapeutics shares last traded at $5.44, with a volume of 104,858 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BMO Capital Markets increased their target price on Fate Therapeutics from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Tuesday, February 27th. Morgan Stanley increased their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 27th. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Finally, Wedbush raised their price target on Fate Therapeutics from $3.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.73.

Fate Therapeutics Stock Performance

The company has a market capitalization of $500.17 million, a price-to-earnings ratio of -3.07 and a beta of 1.66. The company has a 50-day moving average price of $6.95 and a 200-day moving average price of $4.46.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The business had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.85 million. During the same quarter in the previous year, the business posted ($0.58) EPS. As a group, sell-side analysts anticipate that Fate Therapeutics, Inc. will post -1.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Fate Therapeutics by 19.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 590,993 shares of the biopharmaceutical company’s stock valued at $2,210,000 after purchasing an additional 96,527 shares in the last quarter. Barclays PLC lifted its holdings in shares of Fate Therapeutics by 202.6% during the 4th quarter. Barclays PLC now owns 359,375 shares of the biopharmaceutical company’s stock valued at $1,344,000 after purchasing an additional 240,624 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Fate Therapeutics by 14.0% during the 4th quarter. Voya Investment Management LLC now owns 93,313 shares of the biopharmaceutical company’s stock valued at $349,000 after purchasing an additional 11,492 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Fate Therapeutics by 9.6% in the 4th quarter. Nuveen Asset Management LLC now owns 314,571 shares of the biopharmaceutical company’s stock valued at $1,176,000 after acquiring an additional 27,621 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in Fate Therapeutics by 120.5% in the 4th quarter. Brevan Howard Capital Management LP now owns 38,230 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 20,893 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.