Fate Therapeutics (FATE) Stock Rating Upgraded by ValuEngine

Fate Therapeutics (NASDAQ:FATE) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other brokerages have also recently issued reports on FATE. Zacks Investment Research cut Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Thursday, October 12th. Leerink Swann restated an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Friday, September 8th. BMO Capital Markets restated a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Thursday, November 2nd. Finally, Wedbush restated an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, December 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $7.25.

Fate Therapeutics (NASDAQ:FATE) opened at $6.11 on Friday. Fate Therapeutics has a 1 year low of $2.40 and a 1 year high of $6.75. The stock has a market capitalization of $311.50, a price-to-earnings ratio of -6.50 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.95 million. The company’s revenue was up .0% on a year-over-year basis. sell-side analysts predict that Fate Therapeutics will post -0.99 earnings per share for the current year.

In related news, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.85, for a total value of $31,150.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.87, for a total value of $51,180.75. The disclosure for this sale can be found here. Insiders own 10.88% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock worth $4,096,000 after buying an additional 108,602 shares during the period. 683 Capital Management LLC boosted its position in shares of Fate Therapeutics by 15.4% in the third quarter. 683 Capital Management LLC now owns 678,800 shares of the biopharmaceutical company’s stock worth $2,688,000 after buying an additional 90,563 shares during the period. State Street Corp acquired a new stake in shares of Fate Therapeutics in the second quarter worth $1,437,000. Northern Trust Corp boosted its position in shares of Fate Therapeutics by 968.7% in the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after buying an additional 333,753 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Fate Therapeutics by 164.7% in the second quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock worth $511,000 after buying an additional 98,036 shares during the period. 49.85% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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