Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $6.75

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been assigned an average rating of “Hold” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.75.

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

Insiders Place Their Bets

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the purchase, the director now owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently bought and sold shares of FATE. Graham Capital Management L.P. bought a new position in shares of Fate Therapeutics in the 4th quarter worth $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in Fate Therapeutics in the 4th quarter worth approximately $40,000. Brevan Howard Capital Management LP bought a new stake in Fate Therapeutics in the fourth quarter valued at $41,000. FPC Investment Advisory Inc. bought a new position in Fate Therapeutics in the fourth quarter worth about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fate Therapeutics in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of FATE stock opened at $1.55 on Friday. The company has a market cap of $175.96 million, a P/E ratio of -0.94 and a beta of 2.02. The stock has a 50 day simple moving average of $1.50 and a two-hundred day simple moving average of $2.56. Fate Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $8.83.

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.