Fate Therapeutics (NASDAQ:FATE) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.67 and traded as low as $2.51. Fate Therapeutics shares last traded at $2.55, with a volume of 1,207,521 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, August 14th. HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Trading Down 5.1 %

The company has a market cap of $275.58 million, a P/E ratio of -1.42 and a beta of 1.88. The company’s fifty day moving average is $3.24 and its 200 day moving average is $3.65.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $1.47 million. Analysts anticipate that Fate Therapeutics, Inc. will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics during the second quarter valued at about $33,000. Dark Forest Capital Management LP bought a new stake in shares of Fate Therapeutics in the second quarter worth about $63,000. DRW Securities LLC purchased a new position in Fate Therapeutics during the 2nd quarter valued at about $71,000. Castleview Partners LLC bought a new position in Fate Therapeutics during the 3rd quarter valued at approximately $73,000. Finally, Arizona State Retirement System purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $84,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.