Needham & Company LLC Reiterates “Hold” Rating for Fate Therapeutics (NASDAQ:FATE)

Needham & Company LLC reissued their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report report published on Wednesday morning,Benzinga reports.

A number of other brokerages also recently issued reports on FATE. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Fate Therapeutics presently has an average rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Trading Down 2.9 %

FATE stock opened at $2.02 on Wednesday. The firm has a 50 day moving average of $3.11 and a 200-day moving average of $3.59. The firm has a market capitalization of $230.04 million, a P/E ratio of -1.22 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 released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The firm had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. Sell-side analysts predict that Fate Therapeutics will post -1.73 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently added to or reduced their stakes in FATE. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Fate Therapeutics during the first quarter valued at about $432,000. BNP Paribas Financial Markets grew its position in Fate Therapeutics by 100.9% during the 1st quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 23,582 shares during the last quarter. Vanguard Group Inc. increased its stake in Fate Therapeutics by 6.6% in the 1st 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 during the period. Price T Rowe Associates Inc. MD increased its stake in Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after purchasing an additional 219,932 shares during the period. Finally, Baker BROS. Advisors LP bought a new stake in Fate Therapeutics in the first quarter valued at approximately $13,345,000. Hedge funds and other 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.