Brokerages Set Fate Therapeutics, Inc. (NASDAQ:FATE) Target Price at $5.90

by · The Cerbat Gem

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE – Get Free Report) have earned an average rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.90.

A number of research firms have weighed in on FATE. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, June 8th. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Friday, August 14th. Finally, Wells Fargo & Company raised their target price on Fate Therapeutics from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Friday, August 14th.

View Our Latest Stock Report on Fate Therapeutics

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently added to or reduced their stakes in FATE. BlackRock Inc. acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at $19,707,000. Johnson & Johnson acquired a new stake in Fate Therapeutics during the 2nd quarter worth $9,123,473. Irenic Capital Management LP acquired a new stake in Fate Therapeutics during the 1st quarter worth $1,054,000. Renaissance Technologies LLC raised its stake in Fate Therapeutics by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock worth $3,570,000 after acquiring an additional 613,802 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fate Therapeutics in the second quarter valued at $1,552,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Trading Up 3.8%

Shares of NASDAQ:FATE opened at $2.44 on Monday. Fate Therapeutics has a 52 week low of $0.94 and a 52 week high of $3.23. The company’s 50 day moving average is $2.57 and its two-hundred day moving average is $2.06. The company has a market cap of $292.36 million, a PE ratio of -2.32 and a beta of 2.54.

Fate Therapeutics (NASDAQ:FATE – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.25). The business had revenue of $2.08 million for the quarter, compared to analyst estimates of $1.94 million. Fate Therapeutics had a negative net margin of 1,941.09% and a negative return on equity of 65.08%. As a group, equities research analysts expect that Fate Therapeutics will post -1.03 EPS for the current year.

Fate Therapeutics Company Profile

(Get Free Report)

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses its induced pluripotent stem cell (iPSC) platform to produce potentially off-the-shelf immune-cell therapies designed to be manufactured at scale and administered to multiple patients.

Its research and development programs include iPSC-derived natural killer (NK) cell and T-cell therapies. Notable candidates have included FT596, an iPSC-derived NK-cell therapy, and FT819, an iPSC-derived T-cell therapy targeting CD19.

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