Fate Therapeutics, Inc. (FATE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Fate Therapeutics, Inc. (NASDAQ:FATE) from a buy rating to a hold rating in a research note published on Wednesday, September 6th.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Fate Therapeutics from a hold rating to a sell rating in a report on Monday, August 7th. Wedbush reaffirmed an outperform rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, May 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Fate Therapeutics presently has an average rating of Buy and an average price target of $6.63.

Fate Therapeutics (NASDAQ FATE) traded down 1.65% during mid-day trading on Wednesday, hitting $4.16. The company had a trading volume of 618,769 shares. Fate Therapeutics has a 52 week low of $1.80 and a 52 week high of $5.68. The company’s market capitalization is $172.29 million. The firm’s 50 day moving average is $3.35 and its 200 day moving average is $3.74.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.02 million. On average, equities research analysts predict that Fate Therapeutics will post ($0.97) EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Creative Planning raised its position in shares of Fate Therapeutics by 35.3% during the 1st quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 6,000 shares during the last quarter. KCG Holdings Inc. raised its position in shares of Fate Therapeutics by 7.8% during the 1st quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 1,764 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $131,000. Rhumbline Advisers acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $133,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Fate Therapeutics during the 1st quarter worth about $145,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

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