Fate Therapeutics (FATE) Price Target Raised to $21.00

Fate Therapeutics (NASDAQ:FATE) had its price objective raised by Wedbush from $19.00 to $21.00 in a research report report published on Monday. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2018 earnings at ($0.10) EPS, FY2018 earnings at ($1.05) EPS, Q1 2019 earnings at ($0.19) EPS, Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.13) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.74) EPS, FY2020 earnings at ($1.12) EPS, FY2021 earnings at ($0.86) EPS, FY2022 earnings at ($0.21) EPS and FY2023 earnings at $0.95 EPS.

A number of other equities analysts have also recently issued reports on FATE. Zacks Investment Research cut Fate Therapeutics from a hold rating to a sell rating in a report on Monday, January 7th. BidaskClub raised Fate Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, December 5th. Stephens cut Fate Therapeutics from an overweight rating to an equal rating in a report on Thursday, January 3rd. Finally, Jefferies Financial Group started coverage on Fate Therapeutics in a report on Monday, November 5th. They set a buy rating and a $17.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fate Therapeutics currently has a consensus rating of Buy and a consensus target price of $18.86.

Shares of FATE opened at $14.71 on Monday. Fate Therapeutics has a 1 year low of $7.70 and a 1 year high of $17.98. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $969.05 million, a PE ratio of -14.42 and a beta of 2.06.

In other Fate Therapeutics news, General Counsel Cindy Tahl sold 25,000 shares of the stock in a transaction on Monday, January 7th. The stock was sold at an average price of $16.00, for a total value of $400,000.00. Following the transaction, the general counsel now directly owns 47,426 shares in the company, valued at approximately $758,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amir Nashat sold 17,788 shares of the stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $16.67, for a total value of $296,525.96. The disclosure for this sale can be found here. Insiders have sold a total of 469,026 shares of company stock valued at $6,928,487 over the last ninety days. Insiders own 9.89% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Advisors LLC boosted its position in Fate Therapeutics by 1.4% in the 3rd quarter. Teachers Advisors LLC now owns 92,361 shares of the biopharmaceutical company’s stock valued at $1,505,000 after buying an additional 1,283 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fate Therapeutics by 61.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 1,464 shares during the last quarter. TD Asset Management Inc. boosted its position in Fate Therapeutics by 7.3% in the 4th quarter. TD Asset Management Inc. now owns 44,209 shares of the biopharmaceutical company’s stock valued at $567,000 after buying an additional 3,024 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Fate Therapeutics by 19.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 21,601 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 3,462 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Fate Therapeutics by 45.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Fate Therapeutics

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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