Fate Therapeutics, Inc. (NASDAQ:FATE) is among the top gainers of the stock market today, skyrocketing 1.96% or (0.55 points) to $28.67 from its previous close of $28.12. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 181871 contracts so far this session. FATE shares had a relatively better volume day versus average trading capacity of 1.01 million shares, but with a 74.07 million float and a 6.23% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for FATE stock indicates that the average analyst price target is $26.07 per share. This means the stock has a potential decrease of -9.07% from where the FATE share price has been trading recently.
During the recent trading session for Fate Therapeutics, Inc. (NASDAQ:FATE), the company witnessed their stock rise $2.76 over a week and surge $4.33 from the price 20 days ago. When compared to their established 52-week high of $28.95, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/02/20. The recent low of $12.59 stood for a -0.97% since 06/11/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.02 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Fate Therapeutics, Inc., the two-week RSI stands at 71. This figure suggests that FATE stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current FATE readings is similarly very revealing as it has a stochastic reading of 90.57% at this stage. This figure means that FATE share price today is being oversold.
Technical chart claims that Fate Therapeutics, Inc. (FATE) would settle between $28.64/share to $29.15/share level. However, if the stock price goes below the $27.35 mark, then the market for Fate Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $26.57 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.16. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BMO Capital Markets lowered their recommendation on shares of FATE from Outperform to Market Perform in their opinion released on January 09. Mizuho analysts again handed out a Buy recommendation to Fate Therapeutics, Inc. (NASDAQ:FATE) stock but they lifted target price for the shares in a flash note issued to investors on December 30. The target price has been raised from $27 to $33. Analysts at Wells Fargo released an upgrade from Market Perform to Outperform for the stock, in a research note that dated back to December 09.
FATE equity has an average rating of 1.53, with the figure leaning towards a bullish end. 15 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 13 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 13 analysts rated Fate Therapeutics, Inc. (NASDAQ:FATE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Fate Therapeutics, Inc. (FATE)’s current-quarter revenues are projected to climb by nearly 8.4% to hit $1.8 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 107.2% from $4.74 million to a noteworthy $9.82 million. At the other end of the current quarter income statement, Fate Therapeutics, Inc. is expected to see its adjusted earnings surge by roughly -56% to hit $-0.39 per share. For the fiscal year, FATE’s earnings are projected to climb by roughly -21% to hit $-1.44 per share.