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

Wedbush reiterated their neutral rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report issued on Tuesday, Benzinga reports. The firm currently has a $7.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. HC Wainwright reaffirmed a neutral rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, March 19th. Bank of America upped their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an underperform rating in a report on Thursday, March 28th. BMO Capital Markets upped their price objective on shares of Fate Therapeutics from $6.00 to $7.00 and gave the company a market perform rating in a report on Tuesday, February 27th. Oppenheimer reissued a market perform rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Finally, Needham & Company LLC restated a hold rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $6.73.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $3.87 on Tuesday. The firm’s 50 day simple moving average is $6.80 and its two-hundred day simple moving average is $4.56. Fate Therapeutics has a 12-month low of $1.63 and a 12-month high of $8.83.

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

Institutional Trading of Fate Therapeutics

Several institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC acquired a new stake in shares of Fate Therapeutics in the first quarter valued at about $81,000. Assenagon Asset Management S.A. grew its position in shares of Fate Therapeutics by 1,462.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock valued at $18,705,000 after purchasing an additional 2,385,207 shares during the period. Pennant Investors LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $546,000. Superstring Capital Management LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $3,171,000. Finally, Vestal Point Capital LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $4,825,000. Institutional investors and hedge funds 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.