Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $5.50 Consensus Target Price from Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.50.

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Wedbush reaffirmed a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 6th. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus dropped their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th.

Insiders Place Their Bets

In other news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC lifted its position in Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 8,497 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 10,511 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after buying an additional 10,863 shares in the last quarter. American Century Companies Inc. increased its position in Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 12,295 shares during the period. Finally, Franklin Resources Inc. increased its position in Fate Therapeutics by 9.6% during the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 14,532 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 2.6 %

FATE opened at $0.97 on Thursday. The company has a 50 day moving average of $1.27 and a 200 day moving average of $2.24. The company has a market cap of $110.74 million, a PE ratio of -0.59 and a beta of 2.26. Fate Therapeutics has a 12 month low of $0.87 and a 12 month high of $7.70.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. The business had revenue of $1.86 million for the quarter, compared to analysts’ expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Research analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

About Fate Therapeutics

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.