Fate Therapeutics Inc (NASDAQ:FATE) Receives $24.47 Average Target Price from Brokerages

Fate Therapeutics Inc (NASDAQ:FATE) has been assigned an average rating of “Buy” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.47.

A number of research firms have issued reports on FATE. Stifel Nicolaus began coverage on shares of Fate Therapeutics in a report on Monday, September 30th. They set a “buy” rating and a $27.00 price objective on the stock. CIBC began coverage on shares of Fate Therapeutics in a report on Friday, July 12th. They set an “outperform” rating and a $27.00 price objective on the stock. Mizuho reaffirmed a “buy” rating and set a $27.00 price objective on shares of Fate Therapeutics in a report on Wednesday, September 4th. BMO Capital Markets set a $27.00 price objective on shares of Fate Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Oppenheimer began coverage on shares of Fate Therapeutics in a report on Friday, July 12th. They set an “outperform” rating and a $27.00 price objective on the stock.

In related news, Director Amir Nashat sold 81,899 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $22.51, for a total value of $1,843,546.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Redmile Group, Llc purchased 857,143 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $17.50 per share, for a total transaction of $15,000,002.50. The disclosure for this purchase can be found here. Insiders sold a total of 327,483 shares of company stock worth $7,066,997 over the last three months. 23.19% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth about $4,508,000. Nikko Asset Management Americas Inc. bought a new stake in Fate Therapeutics in the 2nd quarter valued at about $10,329,000. Point72 Asset Management L.P. raised its stake in Fate Therapeutics by 18.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 593,500 shares of the biopharmaceutical company’s stock valued at $12,048,000 after acquiring an additional 93,500 shares during the period. First Trust Advisors LP bought a new stake in Fate Therapeutics in the 2nd quarter valued at about $2,728,000. Finally, Pictet Asset Management Ltd. bought a new stake in Fate Therapeutics in the 2nd quarter valued at about $7,012,000. 96.59% of the stock is currently owned by institutional investors.

NASDAQ FATE traded up $0.91 during mid-day trading on Wednesday, hitting $14.54. The company’s stock had a trading volume of 565,511 shares, compared to its average volume of 736,844. The company’s 50 day simple moving average is $16.21 and its 200 day simple moving average is $18.20. Fate Therapeutics has a twelve month low of $11.00 and a twelve month high of $22.82. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $915.46 million, a price-to-earnings ratio of -12.22 and a beta of 1.79.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). Fate Therapeutics had a negative net margin of 934.70% and a negative return on equity of 50.05%. The business had revenue of $2.80 million during the quarter, compared to analyst estimates of $1.09 million. During the same period in the previous year, the business posted ($0.37) EPS. The business’s revenue for the quarter was up 180.0% compared to the same quarter last year. As a group, research analysts forecast that Fate Therapeutics will post -1.43 EPS for the current year.

About Fate Therapeutics

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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