Fate Therapeutics Inc (NASDAQ:FATE) Given Average Rating of “Buy” by Brokerages

Fate Therapeutics Inc (NASDAQ:FATE) has been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $22.77.

A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. Guggenheim reiterated a “hold” rating on shares of Burlington Stores in a research note on Thursday, May 30th. Citigroup set a $27.00 price objective on shares of PhaseBio Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, May 24th. Roth Capital reduced their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Piper Jaffray Companies downgraded shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 27th.

In other news, CEO J Scott Wolchko sold 8,541 shares of Fate Therapeutics stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $16.17, for a total value of $138,107.97. Following the transaction, the chief executive officer now directly owns 375,973 shares of the company’s stock, valued at approximately $6,079,483.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel D. Shoemaker sold 12,500 shares of Fate Therapeutics stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.21, for a total transaction of $252,625.00. Following the completion of the transaction, the insider now directly owns 148,091 shares in the company, valued at $2,992,919.11. The disclosure for this sale can be found here. Insiders sold a total of 35,376 shares of company stock worth $668,402 over the last ninety days. Corporate insiders own 23.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in FATE. BlackRock Inc. grew its stake in shares of Fate Therapeutics by 45.0% during the 4th quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after purchasing an additional 1,562,252 shares during the period. Victory Capital Management Inc. grew its stake in shares of Fate Therapeutics by 49.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after purchasing an additional 655,314 shares during the period. Millennium Management LLC grew its stake in shares of Fate Therapeutics by 269.0% during the 4th quarter. Millennium Management LLC now owns 587,640 shares of the biopharmaceutical company’s stock worth $7,539,000 after purchasing an additional 428,399 shares during the period. Jennison Associates LLC grew its stake in shares of Fate Therapeutics by 108.6% during the 1st quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock worth $8,557,000 after purchasing an additional 253,540 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Fate Therapeutics by 36.3% during the 4th quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after purchasing an additional 186,927 shares during the period. 93.28% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics stock traded up $0.60 during trading on Monday, reaching $22.14. The stock had a trading volume of 556,006 shares, compared to its average volume of 721,503. Fate Therapeutics has a 52-week low of $8.64 and a 52-week high of $22.61. The firm has a 50 day moving average of $19.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.40 and a current ratio of 6.40. The stock has a market capitalization of $1.39 billion, a PE ratio of -18.61 and a beta of 1.65.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The firm had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The firm’s revenue was up 156.3% compared to the same quarter last year. As a group, sell-side analysts expect that Fate Therapeutics will post -1.29 EPS for the current fiscal year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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