Fate Therapeutics (NASDAQ:FATE) Given Hold Rating at Needham & Company LLC

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

Other analysts have also recently issued reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Tuesday. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.89.

Fate Therapeutics Stock Down 7.0 %

FATE stock opened at $2.38 on Wednesday. The company has a market cap of $271.03 million, a price-to-earnings ratio of -1.39 and a beta of 1.88. The business has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $3.62. Fate Therapeutics has a 52 week low of $1.94 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $1.47 million. As a group, analysts expect that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently modified their holdings of FATE. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics during the second quarter worth about $33,000. Dark Forest Capital Management LP bought a new position in shares of Fate Therapeutics during the second quarter worth about $63,000. DRW Securities LLC acquired a new stake in Fate Therapeutics during the second quarter worth about $71,000. Castleview Partners LLC acquired a new stake in Fate Therapeutics during the third quarter worth about $73,000. Finally, Arizona State Retirement System acquired a new stake in Fate Therapeutics during the second quarter worth about $84,000. 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.