Fate Therapeutics’ (FATE) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Monday morning, Marketbeat.com reports. The firm currently has a $7.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Fate Therapeutics from $6.00 to $7.00 and gave the company a market perform rating in a research report on Tuesday, February 27th. HC Wainwright reissued a neutral rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Tuesday, March 19th. Needham & Company LLC reaffirmed a hold rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Oppenheimer reiterated a market perform rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Finally, Bank of America increased their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the company an underperform rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $6.90.

Fate Therapeutics Price Performance

Shares of NASDAQ FATE opened at $4.22 on Monday. The company’s fifty day moving average price is $6.30 and its 200 day moving average price is $4.70. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. The firm had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period last year, the firm earned ($0.58) EPS. As a group, analysts anticipate that Fate Therapeutics will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new stake in Fate Therapeutics in the third quarter valued at $25,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Fate Therapeutics in the 3rd quarter valued at about $30,000. Epiq Partners LLC acquired a new position in Fate Therapeutics in the fourth quarter valued at about $38,000. Brown Advisory Inc. boosted its stake in Fate Therapeutics by 53.3% during the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 6,735 shares during the period. Finally, RPO LLC acquired a new stake in shares of Fate Therapeutics during the fourth quarter valued at about $46,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.