Fate Therapeutics (NASDAQ:FATE) Earns “Neutral” Rating from Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $5.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 452.43% from the company’s previous close.

FATE has been the subject of a number of other reports. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. StockNews.com upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.86.

Fate Therapeutics Trading Down 4.7 %

Shares of FATE stock opened at $0.91 on Thursday. Fate Therapeutics has a 1-year low of $0.89 and a 1-year high of $8.83. The stock has a 50-day moving average of $1.40 and a 200-day moving average of $2.41. The stock has a market cap of $103.09 million, a price-to-earnings ratio of -0.55 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The business had revenue of $1.86 million for the quarter, compared to analyst estimates of $1.57 million. Sell-side analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics during the fourth quarter valued at approximately $37,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $40,000. Brevan Howard Capital Management LP bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $41,000. FPC Investment Advisory Inc. bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.