Needham & Company LLC Reaffirms “Hold” Rating for Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

FATE has been the topic of a number of other research reports. HC Wainwright restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Trading Down 4.1 %

FATE opened at $2.08 on Wednesday. Fate Therapeutics has a 1-year low of $2.05 and a 1-year high of $8.83. The company has a market cap of $236.87 million, a price-to-earnings ratio of -1.26 and a beta of 1.88. The company’s fifty day moving average price is $3.14 and its two-hundred day moving average price is $3.60.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 44.88%. As a group, equities analysts forecast that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Fate Therapeutics in the 1st quarter valued at about $432,000. BNP Paribas Financial Markets increased its stake in shares of Fate Therapeutics by 100.9% in the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 23,582 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Fate Therapeutics by 6.6% in 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. Price T Rowe Associates Inc. MD lifted its stake in shares of Fate Therapeutics by 404.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 219,932 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new position in Fate Therapeutics in the 1st quarter worth approximately $13,345,000. 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.