Zacks Investment Research upgraded shares of Fate Therapeutics, Inc. (NASDAQ:FATE) from a hold rating to a buy rating in a research report sent to investors on Friday, September 8th. They currently have $4.75 price target on the biopharmaceutical company’s stock.
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. “
FATE has been the topic of several other reports. ValuEngine raised Fate Therapeutics from a sell rating to a hold rating in a report on Tuesday, August 29th. Leerink Swann reaffirmed an outperform rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Friday, September 8th. Finally, Wedbush restated an outperform rating and set a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, May 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $6.63.
Shares of Fate Therapeutics (NASDAQ FATE) opened at 4.16 on Friday. Fate Therapeutics has a one year low of $1.80 and a one year high of $5.68. The company’s 50 day moving average is $3.35 and its 200 day moving average is $3.74. The company’s market capitalization is $172.29 million.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.01. The company had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics had a negative return on equity of 67.01% and a negative net margin of 887.68%. Equities research analysts predict that Fate Therapeutics will post ($0.97) earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of FATE. Creative Planning grew 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 buying an additional 6,000 shares in the last quarter. KCG Holdings Inc. boosted its position in Fate Therapeutics by 7.8% during the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 1,764 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Fate Therapeutics during the second quarter valued at about $131,000. Rhumbline Advisers bought a new stake in Fate Therapeutics during the second quarter valued at about $133,000. Finally, Driehaus Capital Management LLC bought a new stake in Fate Therapeutics during the first quarter valued at about $145,000. 64.27% of the stock is currently owned by institutional investors and hedge funds.
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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