Fate Therapeutics (NASDAQ:FATE) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Fate Therapeutics (NASDAQ:FATE) from an underperform rating to a neutral rating in a report issued on Monday, Marketbeat Ratings reports.

FATE has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $2.07 on Monday. The stock’s 50 day moving average price is $2.99 and its 200 day moving average price is $3.54. The firm has a market capitalization of $235.76 million, a PE ratio of -1.25 and a beta of 1.88. Fate Therapeutics has a one year low of $1.96 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The firm had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. On average, analysts forecast that Fate Therapeutics will post -1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $33,000. Dark Forest Capital Management LP bought a new position in Fate Therapeutics during the 2nd quarter worth $63,000. DRW Securities LLC bought a new position in Fate Therapeutics during the 2nd quarter worth $71,000. Castleview Partners LLC bought a new position in Fate Therapeutics during the 3rd quarter worth $73,000. Finally, Arizona State Retirement System bought a new position in Fate Therapeutics during the 2nd quarter worth $84,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.