Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) PT at $6.75

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have received an average rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.75.

A number of analysts have recently weighed in on FATE shares. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th.

Insider Transactions at Fate Therapeutics

In related news, Director Redmile Group, Llc purchased 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. purchased a new stake in Fate Therapeutics during the 2nd quarter valued at $33,000. Dark Forest Capital Management LP purchased a new stake in Fate Therapeutics during the second quarter valued at $63,000. DRW Securities LLC purchased a new position in Fate Therapeutics in the second quarter worth about $71,000. Castleview Partners LLC bought a new stake in shares of Fate Therapeutics during the 3rd quarter valued at about $73,000. Finally, Arizona State Retirement System purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at about $84,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE opened at $1.80 on Friday. The company has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $3.19. The firm has a market capitalization of $205.01 million, a PE ratio of -1.09 and a beta of 2.02. Fate Therapeutics has a one year low of $1.55 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Analysts expect that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

About Fate Therapeutics

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.