Wedbush Reaffirms Neutral Rating for Fate Therapeutics (NASDAQ:FATE)

Wedbush reiterated their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report issued on Tuesday morning,RTT News reports. Wedbush currently has a $5.00 target price on the biopharmaceutical company’s stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.47) EPS, FY2024 earnings at ($1.68) EPS, Q1 2025 earnings at ($0.49) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.38) EPS, FY2025 earnings at ($1.60) EPS, FY2026 earnings at ($1.33) EPS, FY2027 earnings at ($1.23) EPS and FY2028 earnings at ($1.09) EPS.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.89.

Fate Therapeutics Trading Down 2.9 %

Shares of FATE stock opened at $2.02 on Tuesday. Fate Therapeutics has a 12-month low of $1.96 and a 12-month high of $8.83. The stock has a market capitalization of $230.04 million, a P/E ratio of -1.22 and a beta of 1.88. The firm’s 50 day moving average is $3.11 and its 200 day moving average is $3.59.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities analysts predict that Fate Therapeutics will post -1.73 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Fate Therapeutics during the first quarter valued at about $432,000. BNP Paribas Financial Markets grew its position in shares of Fate Therapeutics by 100.9% during the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 23,582 shares in the last quarter. Vanguard Group Inc. raised its stake in Fate Therapeutics by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after purchasing an additional 219,932 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new position in Fate Therapeutics in the 1st quarter worth approximately $13,345,000. Institutional investors own 97.54% of the company’s stock.

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.