Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.90 Consensus Price Target from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.90.

Several research analysts have issued reports on the company. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.00 to $6.00 in a report on Monday, June 17th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 22nd.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in Fate Therapeutics during the first quarter valued at $1,109,000. Vestal Point Capital LP bought a new position in Fate Therapeutics during the fourth quarter valued at $4,825,000. Price T Rowe Associates Inc. MD grew its holdings in Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after purchasing an additional 219,932 shares during the period. Superstring Capital Management LP bought a new position in Fate Therapeutics during the fourth quarter valued at $3,171,000. Finally, Vanguard Group Inc. grew its holdings in Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $3.64 on Thursday. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.83. The stock’s 50-day moving average is $4.04 and its 200 day moving average is $4.50. The firm has a market cap of $414.35 million, a price-to-earnings ratio of -1.90 and a beta of 1.84.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.14. The business had revenue of $6.77 million for the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. On average, sell-side analysts expect that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

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.