Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Rating of “Hold” by Analysts

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.50.

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. StockNews.com lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 6th.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now directly owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC raised its holdings in shares of Fate Therapeutics by 27.5% during the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 8,497 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Fate Therapeutics by 6.6% during the fourth quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 12,295 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Fate Therapeutics by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 14,532 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Down 1.6 %

Shares of FATE opened at $0.91 on Thursday. The firm’s 50-day moving average price is $1.24 and its 200-day moving average price is $2.21. The firm has a market capitalization of $103.78 million, a price-to-earnings ratio of -0.55 and a beta of 2.26. Fate Therapeutics has a 1-year low of $0.87 and a 1-year high of $7.70.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $1.86 million for the quarter, compared to analyst estimates of $1.57 million. On average, research analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

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.