Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $6.75

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have earned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.75.

A number of research firms have issued reports on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th.

Insider Activity

In other news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. bought a new position in Fate Therapeutics during the fourth quarter worth $37,000. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics during the fourth quarter worth $40,000. Brevan Howard Capital Management LP bought a new position in Fate Therapeutics during the fourth quarter worth $41,000. FPC Investment Advisory Inc. bought a new position in Fate Therapeutics during the fourth quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Fate Therapeutics during the fourth quarter worth $55,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 8.1 %

NASDAQ FATE opened at $1.42 on Friday. The stock has a market capitalization of $161.72 million, a PE ratio of -0.86 and a beta of 2.02. The company has a 50 day moving average price of $1.49 and a two-hundred day moving average price of $2.53. Fate Therapeutics has a 12-month low of $1.04 and a 12-month high of $8.83.

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.