Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.58 Consensus Price Target from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.75.

Several equities research analysts have recently issued reports on FATE shares. Morgan Stanley lifted their price objective on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 27th. Bank of America boosted their price target on shares of Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Canaccord Genuity Group reduced their target price on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Wedbush reissued a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, May 6th.

View Our Latest Research Report on FATE

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently made changes to their positions in FATE. Victory Capital Management Inc. lifted its stake in Fate Therapeutics by 22.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 2,322 shares during the last quarter. Epiq Partners LLC purchased a new stake in shares of Fate Therapeutics in the fourth quarter worth approximately $38,000. Simplicity Wealth LLC bought a new stake in shares of Fate Therapeutics during the 1st quarter worth approximately $81,000. RPO LLC purchased a new position in Fate Therapeutics during the 4th quarter valued at $46,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Fate Therapeutics in the 3rd quarter valued at $30,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $3.57 on Tuesday. The stock has a fifty day simple moving average of $4.19 and a two-hundred day simple moving average of $5.03. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83. The firm has a market capitalization of $406.37 million, a PE ratio of -1.86 and a beta of 1.90.

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

About Fate Therapeutics

(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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