Fate Therapeutics (NASDAQ:FATE) Shares Gap Up to $5.38

Fate Therapeutics, Inc. (NASDAQ:FATE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.38, but opened at $5.50. Fate Therapeutics shares last traded at $5.44, with a volume of 104,858 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America raised 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. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. BMO Capital Markets upped their target price on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research note on Tuesday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.73.

Fate Therapeutics Stock Performance

The company’s 50 day simple moving average is $6.98 and its two-hundred day simple moving average is $4.45.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. The company 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 quarter in the prior year, the business earned ($0.58) earnings per share. On average, sell-side analysts predict that Fate Therapeutics, Inc. will post -1.94 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several hedge funds have recently modified their holdings of FATE. Fox Run Management L.L.C. bought a new position in Fate Therapeutics in the 3rd quarter valued at $25,000. Simplicity Solutions LLC bought a new stake in shares of Fate Therapeutics during the 3rd quarter worth about $25,000. National Bank of Canada FI acquired a new position in Fate Therapeutics in the 3rd quarter valued at about $25,000. Natixis acquired a new stake in Fate Therapeutics during the fourth quarter worth approximately $29,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Fate Therapeutics during the third quarter worth approximately $30,000. 97.54% of the stock is owned by institutional investors.

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.