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

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered 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.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in FATE. Commonwealth Equity Services LLC purchased a new position in shares of Fate Therapeutics in the 4th quarter worth about $26,000. Bridgeway Capital Management LLC purchased a new stake in Fate Therapeutics during the second quarter worth about $28,000. Corient Private Wealth LLC bought a new stake in Fate Therapeutics in the fourth quarter worth about $29,000. The Manufacturers Life Insurance Company bought a new stake in Fate Therapeutics in the fourth quarter worth about $35,000. Finally, Russell Investments Group Ltd. boosted its stake in Fate Therapeutics by 73.1% in the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 12,114 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Stock Up 8.0%

Fate Therapeutics stock opened at $1.22 on Monday. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $1.94. The company’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.18. The stock has a market cap of $141.84 million, a P/E ratio of -1.06 and a beta of 2.19.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results 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 company had revenue of $1.37 million during 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%. On average, equities analysts anticipate 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.