Fate Therapeutics (NASDAQ:FATE) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.14 and traded as low as $0.9701. Fate Therapeutics shares last traded at $0.9826, with a volume of 810,720 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on FATE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, October 31st. Cantor Fitzgerald reissued a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.92.

Fate Therapeutics Price Performance

The stock has a fifty day moving average of $1.10 and a two-hundred day moving average of $1.14. The firm has a market capitalization of $114.08 million, a price-to-earnings ratio of -0.75 and a beta of 2.22.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The business had revenue of $1.74 million for the quarter, compared to the consensus estimate of $1.63 million. On average, research analysts forecast that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 0.4% during the third quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock valued at $11,086,000 after acquiring an additional 31,727 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Fate Therapeutics by 67.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock worth $1,952,000 after acquiring an additional 999,773 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fate Therapeutics by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock valued at $2,721,000 after acquiring an additional 159,558 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Fate Therapeutics by 38.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,203,323 shares of the biopharmaceutical company’s stock worth $1,741,000 after acquiring an additional 616,336 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Fate Therapeutics by 9.6% during the 3rd quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock worth $1,214,000 after acquiring an additional 84,183 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.