Stifel Nicolaus Has Lowered Expectations for Fate Therapeutics (NASDAQ:FATE) Stock Price

Fate Therapeutics (NASDAQ:FATE) had its price objective lowered by Stifel Nicolaus from $5.00 to $3.00 in a research report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on FATE. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Thursday. Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday. Wells Fargo & Company lowered their target price 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. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. Eight investment 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, the company presently has an average rating of “Hold” and an average price target of $5.50.

Fate Therapeutics Stock Up 14.9 %

FATE stock opened at $1.04 on Thursday. Fate Therapeutics has a fifty-two week low of $0.88 and a fifty-two week high of $8.83. The firm’s 50-day simple moving average is $1.39 and its 200 day simple moving average is $2.40. The stock has a market cap of $118.45 million, a PE ratio of -0.63 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping 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. Equities analysts forecast that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Insider Activity

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the transaction, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently made changes to their positions in the business. Vestal Point Capital LP boosted its position in shares of Fate Therapeutics by 46.3% during the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 780,000 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Fate Therapeutics by 154.2% in the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 20,805 shares during the period. Tang Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 165.1% in the fourth quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock worth $3,062,000 after buying an additional 1,155,954 shares during the period. Sphera Funds Management LTD. acquired a new position in shares of Fate Therapeutics in the fourth quarter worth about $655,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fate Therapeutics in the fourth quarter worth about $55,000. Institutional investors own 97.54% of the company’s stock.

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.