Fate Therapeutics (NASDAQ:FATE) Earns “Neutral” Rating from Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report released on Thursday,Benzinga reports. They currently have a $5.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target would indicate a potential upside of 452.43% from the stock’s current price.

FATE has been the topic of a number of other reports. StockNews.com upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Bank of America upgraded shares of 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 Thursday. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.86.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $0.91 on Thursday. Fate Therapeutics has a one year low of $0.89 and a one year high of $8.83. The company has a market capitalization of $103.09 million, a PE ratio of -0.55 and a beta of 2.02. The company has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $2.41.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly 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 business had revenue of $1.86 million for the quarter, compared to analysts’ expectations of $1.57 million. On average, equities analysts predict that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was acquired 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 in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Fate Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC lifted its stake in Fate Therapeutics by 27.5% during the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 8,497 shares during the period. SG Americas Securities LLC increased its holdings in shares of Fate Therapeutics by 30.6% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fate Therapeutics by 0.5% during the 3rd 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 in the last quarter. American Century Companies Inc. increased its holdings in shares of Fate Therapeutics by 6.6% during the 4th 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 in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Fate Therapeutics by 9.6% during the 4th 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 in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.