Fate Therapeutics, Inc. (NASDAQ:FATE) Receives $6.90 Consensus Target Price from Brokerages

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.90.

A number of research analysts recently commented on the company. Piper Sandler raised Fate Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $4.00 to $6.00 in a report on Monday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. Finally, HC Wainwright restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd.

Fate Therapeutics Stock Performance

NASDAQ FATE opened at $3.45 on Thursday. The stock has a market cap of $392.89 million, a P/E ratio of -1.80 and a beta of 1.84. The company’s fifty day simple moving average is $4.00 and its 200-day simple moving average is $4.46. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The firm had revenue of $6.77 million for the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. On average, research analysts expect that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in FATE. Susquehanna Fundamental Investments LLC bought a new position in shares of Fate Therapeutics in the 1st quarter worth about $1,109,000. Vestal Point Capital LP bought a new position in Fate Therapeutics in the fourth quarter worth about $4,825,000. Price T Rowe Associates Inc. MD boosted its stake in Fate Therapeutics by 404.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after acquiring an additional 219,932 shares during the period. Superstring Capital Management LP bought a new position in shares of Fate Therapeutics during the fourth quarter valued at approximately $3,171,000. Finally, Vanguard Group Inc. raised its position in shares of Fate Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares during the period. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.