Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) PT at $4.10

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.10.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently made changes to their positions in FATE. Comerica Bank increased its stake in shares of Fate Therapeutics by 55,698.6% during the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 81,877 shares during the period. AQR Capital Management LLC increased its position in Fate Therapeutics by 296.4% during the first quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock worth $462,000 after acquiring an additional 437,423 shares during the period. Jane Street Group LLC increased its position in Fate Therapeutics by 106.9% during the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 32,911 shares during the period. Geode Capital Management LLC increased its position in Fate Therapeutics by 7.0% during the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after acquiring an additional 159,558 shares during the period. Finally, Invesco Ltd. increased its position in Fate Therapeutics by 19.6% during the second quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company’s stock worth $286,000 after acquiring an additional 41,869 shares during the period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

NASDAQ:FATE opened at $1.39 on Friday. The stock’s 50 day moving average price is $1.27 and its two-hundred day moving average price is $1.21. The firm has a market capitalization of $161.61 million, a price-to-earnings ratio of -1.21 and a beta of 2.23. Fate Therapeutics has a 12-month low of $0.91 and a 12-month high of $1.94.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $1.20 million. Fate Therapeutics had a negative return on equity of 55.02% and a negative net margin of 2,051.08%. Equities research analysts expect that Fate Therapeutics will post -1.63 EPS for the current year.

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.