Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.58 Average PT from Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) have earned an average rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.58.

FATE has been the subject of several research reports. HC Wainwright cut their price objective on Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley lifted their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 27th. Wedbush reiterated a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, May 6th. Barclays boosted their price target on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Bank of America upped their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th.

Read Our Latest Stock Report on Fate Therapeutics

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE opened at $3.90 on Friday. The business’s 50 day moving average price is $5.67 and its 200-day moving average price is $4.84. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The firm has a market capitalization of $443.94 million, a price-to-earnings ratio of -2.03 and a beta of 1.80.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.47). The business had revenue of $1.93 million for the quarter, compared to the consensus estimate of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same period last year, the firm posted ($0.19) earnings per share. On average, sell-side analysts expect that Fate Therapeutics will post -1.9 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FATE. Assenagon Asset Management S.A. lifted its position in shares of Fate Therapeutics by 1,462.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock worth $18,705,000 after purchasing an additional 2,385,207 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Fate Therapeutics in the 1st quarter valued at approximately $13,345,000. Vestal Point Capital LP purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $4,825,000. Acadian Asset Management LLC grew its stake in shares of Fate Therapeutics by 135.5% in the third quarter. Acadian Asset Management LLC now owns 2,149,597 shares of the biopharmaceutical company’s stock worth $4,555,000 after acquiring an additional 1,236,680 shares in the last quarter. Finally, Superstring Capital Management LP purchased a new stake in shares of Fate Therapeutics during the fourth quarter worth $3,171,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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