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

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 72.41% from the company’s current price.

FATE has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. BMO Capital Markets raised their target price on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. HC Wainwright reiterated a “neutral” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Finally, Bank of America raised their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.90.

Fate Therapeutics Price Performance

Shares of NASDAQ:FATE opened at $4.06 on Monday. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The business has a 50-day moving average of $6.36 and a two-hundred day moving average of $4.69. The stock has a market capitalization of $462.11 million, a P/E ratio of -2.48 and a beta of 1.80.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. The company had revenue of $1.68 million during 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 previous year, the firm earned ($0.58) earnings per share. As a group, research analysts expect that Fate Therapeutics will post -1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently bought and sold shares of the business. Epiq Partners LLC bought a new position in Fate Therapeutics in the 4th quarter valued at $38,000. Simplicity Wealth LLC bought a new position in Fate Therapeutics in the 1st quarter valued at $81,000. Fox Run Management L.L.C. bought a new position in Fate Therapeutics in the 3rd quarter valued at $25,000. RPO LLC bought a new position in Fate Therapeutics in the 4th quarter valued at $46,000. Finally, Victory Capital Management Inc. raised its position in shares of Fate Therapeutics by 22.8% during the fourth quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 2,322 shares during the last quarter. 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.