Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $6.73

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.73.

A number of research analysts have recently weighed in on the company. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $6.00 in a research report on Monday, June 17th. StockNews.com lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, May 6th.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after purchasing an additional 617,644 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in Fate Therapeutics by 62.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after buying an additional 1,365,463 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Fate Therapeutics by 1.0% in the second quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock valued at $8,445,000 after buying an additional 26,399 shares during the last quarter. Monaco Asset Management SAM boosted its holdings in Fate Therapeutics by 18.1% in the fourth quarter. Monaco Asset Management SAM now owns 2,183,228 shares of the biopharmaceutical company’s stock worth $8,165,000 after acquiring an additional 335,284 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Fate Therapeutics by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock worth $6,987,000 after acquiring an additional 1,067,101 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Up 0.9 %

NASDAQ:FATE opened at $3.54 on Friday. The stock has a market cap of $402.97 million, a price-to-earnings ratio of -1.84 and a beta of 1.90. The company’s 50 day moving average price is $3.92 and its 200-day moving average price is $4.94. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.14. The firm had revenue of $6.77 million during the quarter, compared to analyst estimates of $1.47 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. As a group, sell-side analysts anticipate that Fate Therapeutics will post -1.9 earnings per share for the current year.

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.