Needham & Company LLC Reaffirms Hold Rating for Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

FATE has been the topic of a number of other research reports. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.89.

Fate Therapeutics Trading Up 12.4 %

Shares of NASDAQ FATE opened at $2.27 on Tuesday. The firm has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $3.57. The firm has a market capitalization of $258.53 million, a PE ratio of -1.38 and a beta of 1.88. Fate Therapeutics has a 12 month low of $1.96 and a 12 month high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, sell-side analysts predict that Fate Therapeutics will post -1.72 earnings per share for the current year.

Institutional Trading of Fate Therapeutics

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in Fate Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 5,605 shares during the period. Doheny Asset Management CA acquired a new stake in Fate Therapeutics during the second quarter valued at $263,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics in the second quarter worth about $33,000. Geode Capital Management LLC lifted its position in shares of Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after buying an additional 10,863 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Fate Therapeutics by 40.7% in the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 12,230 shares during the last quarter. 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.