Fate Therapeutics (FATE) Trading Up 7.9%

Fate Therapeutics Inc (NASDAQ:FATE) shares were up 7.9% during mid-day trading on Tuesday . The company traded as high as $14.60 and last traded at $14.57. Approximately 638,347 shares changed hands during trading, a decline of 1% from the average daily volume of 647,898 shares. The stock had previously closed at $13.50.

A number of research analysts recently issued reports on FATE shares. Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Piper Jaffray Companies reiterated an “overweight” rating and set a $23.00 target price on shares of Fate Therapeutics in a research report on Tuesday, September 25th. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. BidaskClub downgraded shares of Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Citigroup started coverage on shares of Fate Therapeutics in a research report on Wednesday, August 1st. They set a “buy” rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Fate Therapeutics currently has a consensus rating of “Buy” and an average target price of $17.29.

The company has a current ratio of 4.92, a quick ratio of 4.92 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $870.20 million, a price-to-earnings ratio of -13.24 and a beta of 1.72.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, August 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.05). Fate Therapeutics had a negative return on equity of 95.07% and a negative net margin of 1,387.53%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.02 million. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts forecast that Fate Therapeutics Inc will post -1.16 earnings per share for the current fiscal year.

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 3,703,704 shares of the stock in a transaction on Tuesday, September 25th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $50,000,004.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.89% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Jane Street Group LLC acquired a new position in Fate Therapeutics during the second quarter worth $116,000. PNC Financial Services Group Inc. acquired a new position in Fate Therapeutics during the second quarter worth $120,000. Quantitative Systematic Strategies LLC acquired a new position in Fate Therapeutics during the second quarter worth $129,000. First Mercantile Trust Co. raised its holdings in Fate Therapeutics by 113.7% during the second quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 6,863 shares during the last quarter. Finally, Barclays PLC raised its holdings in Fate Therapeutics by 201.9% during the first quarter. Barclays PLC now owns 18,805 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 12,577 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.

About Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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