Fate Therapeutics (FATE) Receives “Hold” Rating from HC Wainwright

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “hold” rating reiterated by HC Wainwright in a research report issued to clients and investors on Tuesday. They presently have a $12.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 2.39% from the stock’s previous close.

The analysts wrote, “Fate Announces Updated Data From Phase 1 of PROTECT; Reiterate Neutral Updated ProTmune data shows continued safety and efficacy. Yesterday, Fate Therapeutics announced additional Phase 1 clinical data from PROTECT. As a reminder, Fate is investigating ProTmune, a next-generation hematopoietic cell graft for the prevention of acute graft-versus-host disease (GvHD) in patients undergoing allogeneic hematopoietic cell transplantation (HCT). Data reported at ASH indicated that all subjects (n=7) remained relapse-free, and there were no events of graft failure or serious adverse events (SAEs) that were deemed related to ProTmune. In the study, three out of seven subjects experienced acute GvHD in the first 100 days. However, all subjects responded to standard-of care steroid treatment, and all three cases of GvHD resolved within 5-8 days.””

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FATE has been the subject of a number of other reports. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. UBS downgraded shares of Fate Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 6th. Zacks Investment Research downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $7.00 price target (down from $10.00) on shares of Fate Therapeutics in a research report on Thursday, January 18th. Finally, Wells Fargo reiterated an “outperform” rating and issued a $19.00 price target (up from $10.00) on shares of Fate Therapeutics in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.71.

Shares of Fate Therapeutics (NASDAQ FATE) opened at $11.72 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.29 and a quick ratio of 9.29. Fate Therapeutics has a 1 year low of $2.52 and a 1 year high of $14.45. The firm has a market cap of $624.26, a P/E ratio of -11.49 and a beta of 1.65.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million. The company’s revenue for the quarter was up .0% compared to the same quarter last year. analysts predict that Fate Therapeutics will post -0.91 EPS for the current year.

A number of large investors have recently made changes to their positions in FATE. Teachers Advisors LLC bought a new position in Fate Therapeutics in the second quarter valued at approximately $233,000. TIAA CREF Investment Management LLC bought a new position in Fate Therapeutics in the second quarter valued at approximately $373,000. New York State Common Retirement Fund bought a new position in Fate Therapeutics in the second quarter valued at approximately $131,000. Northern Trust Corp increased its stake in Fate Therapeutics by 968.7% in the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after acquiring an additional 333,753 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after acquiring an additional 108,602 shares during the last quarter. 66.43% of the stock is currently 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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