Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.9167.

Several research firms have issued reports on FATE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fate Therapeutics in a report on Thursday, January 22nd. Wall Street Zen cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Institutional Trading of Fate Therapeutics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Fate Therapeutics by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock valued at $11,086,000 after purchasing an additional 31,727 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 159,558 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Fate Therapeutics by 87.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company’s stock valued at $2,320,000 after buying an additional 1,098,366 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Fate Therapeutics by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,162,005 shares of the biopharmaceutical company’s stock valued at $1,142,000 after buying an additional 30,591 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Fate Therapeutics by 9.6% in the third quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock worth $1,214,000 after buying an additional 84,183 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 5.8%

Shares of FATE opened at $1.45 on Thursday. The firm has a market cap of $168.58 million, a P/E ratio of -1.26 and a beta of 2.19. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $1.94. The stock’s 50 day moving average is $1.20 and its two-hundred day moving average is $1.17.

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

About Fate Therapeutics

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.