Wedbush restated their outperform rating on shares of Fate Therapeutics Inc (NASDAQ:FATE) in a research note issued to investors on Tuesday morning. The firm currently has a $7.00 price target on the biopharmaceutical company’s stock.
FATE has been the subject of a number of other research reports. Zacks Investment Research cut shares of Fate Therapeutics from a buy rating to a hold rating in a report on Tuesday, March 7th. HC Wainwright decreased their price objective on shares of Fate Therapeutics from $8.00 to $6.00 and set a buy rating for the company in a report on Monday, March 20th. BMO Capital Markets boosted their price objective on shares of Fate Therapeutics to $7.00 and gave the company a buy rating in a report on Friday, March 17th. Finally, Roth Capital set a $8.00 price objective on shares of Fate Therapeutics and gave the company a buy rating in a report on Saturday, March 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Fate Therapeutics currently has a consensus rating of Buy and an average price target of $5.88.
Fate Therapeutics (NASDAQ:FATE) traded up 3.39% during midday trading on Tuesday, reaching $3.96. 44,802 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $4.33 and its 200 day moving average is $3.52. Fate Therapeutics has a 1-year low of $1.47 and a 1-year high of $5.68. The stock’s market cap is $163.89 million.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.03. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.04 million. Fate Therapeutics had a negative net margin of 740.69% and a negative return on equity of 112.48%. Equities analysts anticipate that Fate Therapeutics will post ($1.00) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. Creative Planning boosted its position in Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6,000 shares during the period. KCG Holdings Inc. boosted its position in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,764 shares during the period. Driehaus Capital Management LLC bought a new position in Fate Therapeutics during the first quarter valued at $145,000. Hillsdale Investment Management Inc. bought a new position in Fate Therapeutics during the first quarter valued at $160,000. Finally, Segantii Capital Management Ltd bought a new position in Fate Therapeutics during the first quarter valued at $182,000. Institutional investors own 47.08% of the company’s stock.
About Fate Therapeutics
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.
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