Analysts Set Fate Therapeutics, Inc. (NASDAQ:FATE) Price Target at $7.00

Fate Therapeutics, Inc. (NASDAQ:FATE) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.00.

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A number of research firms recently commented on FATE. Wedbush reiterated an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, May 16th. ValuEngine downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 7th.

Fate Therapeutics (NASDAQ:FATE) traded up 6.05% during mid-day trading on Monday, hitting $2.98. The company’s stock had a trading volume of 151,510 shares. The company’s 50 day moving average is $3.05 and its 200-day moving average is $3.68. The stock’s market cap is $123.37 million. Fate Therapeutics has a 52-week low of $1.80 and a 52-week high of $5.68.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.03. The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.04 million. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%. On average, equities analysts predict that Fate Therapeutics will post ($1.00) EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 6,000 shares during the period. KCG Holdings Inc. increased its stake in shares of Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,764 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Fate Therapeutics during the second quarter worth about $131,000. Rhumbline Advisers bought a new stake in shares of Fate Therapeutics during the second quarter worth about $133,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of Fate Therapeutics during the first quarter worth about $145,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

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Fate Therapeutics Company Profile

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.