Fate Therapeutics (NASDAQ:FATE) Shares Up 6.7%

Fate Therapeutics Inc (NASDAQ:FATE)’s share price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $14.70 and last traded at $14.54, 565,511 shares were traded during mid-day trading. A decline of 23% from the average session volume of 736,844 shares. The stock had previously closed at $13.63.

Several research firms have recently issued reports on FATE. Piper Jaffray Companies decreased their price objective on shares of Fate Therapeutics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, September 16th. BTIG Research began coverage on shares of Fate Therapeutics in a report on Friday, August 9th. They issued a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, October 15th. BMO Capital Markets set a $27.00 price objective on shares of Fate Therapeutics and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Cantor Fitzgerald began coverage on shares of Fate Therapeutics in a report on Monday, July 22nd. They issued an “overweight” rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Fate Therapeutics has a consensus rating of “Buy” and a consensus target price of $24.47.

The stock has a market capitalization of $915.46 million, a P/E ratio of -12.22 and a beta of 1.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.61 and a quick ratio of 5.61. The stock’s fifty day moving average is $16.06 and its two-hundred day moving average is $18.14.

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

In related news, Director Amir Nashat sold 81,899 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $22.51, for a total value of $1,843,546.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bahram Valamehr sold 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.18, for a total transaction of $87,916.00. The disclosure for this sale can be found here. Insiders have sold 327,483 shares of company stock valued at $7,066,997 over the last 90 days. 23.19% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC acquired a new position in Fate Therapeutics in the 2nd quarter worth approximately $4,508,000. Point72 Asset Management L.P. lifted its position 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 worth $12,048,000 after buying an additional 93,500 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $10,329,000. First Trust Advisors LP purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $2,728,000. Finally, Pictet Asset Management Ltd. purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $7,012,000. 96.59% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile (NASDAQ:FATE)

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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