Fate Therapeutics (NASDAQ:FATE) Shares Up 8.4%

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) were up 8.4% during trading on Tuesday . The company traded as high as $4.56 and last traded at $4.54. Approximately 366,590 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,570,805 shares. The stock had previously closed at $4.19.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FATE shares. StockNews.com lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. HC Wainwright reduced their price target on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. BMO Capital Markets reduced their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Finally, Wedbush restated a “neutral” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Price Performance

The stock has a market cap of $488.33 million, a PE ratio of -2.23 and a beta of 1.90. The stock has a 50-day moving average price of $3.92 and a two-hundred day moving average price of $5.17.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, hitting analysts’ consensus estimates of ($0.47). Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same period last year, the company posted ($0.19) EPS. Equities research analysts expect that Fate Therapeutics, Inc. will post -1.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in Fate Therapeutics during the first quarter worth $1,109,000. Vestal Point Capital LP bought a new stake in Fate Therapeutics during the 4th quarter valued at about $4,825,000. Superstring Capital Management LP purchased a new stake in Fate Therapeutics in the 4th quarter valued at about $3,171,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Fate Therapeutics in the 1st quarter worth about $432,000. Finally, BNP Paribas Financial Markets increased its position in shares of Fate Therapeutics by 100.9% during the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 23,582 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.