Fate Therapeutics (FATE) Trading Up 8%

Fate Therapeutics Inc (NASDAQ:FATE) was up 8% during trading on Friday . The stock traded as high as $8.90 and last traded at $8.76. Approximately 935,510 shares were traded during trading, an increase of 52% from the average daily volume of 614,979 shares. The stock had previously closed at $8.11.

Several equities research analysts recently commented on FATE shares. BMO Capital Markets reiterated a “buy” rating and set a $7.00 target price on shares of Fate Therapeutics in a report on Thursday, November 2nd. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a report on Thursday, November 2nd. ValuEngine downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. Finally, Piper Jaffray Companies started coverage on Fate Therapeutics in a report on Monday, December 18th. They set an “overweight” rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Fate Therapeutics has an average rating of “Buy” and a consensus target price of $7.71.

The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in Fate Therapeutics by 61.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 12,686 shares in the last quarter. Raymond James & Associates acquired a new stake in Fate Therapeutics during the 4th quarter valued at approximately $141,000. Hochman Cole Investment Advisors Inc. acquired a new stake in Fate Therapeutics during the 3rd quarter valued at approximately $158,000. New York State Common Retirement Fund acquired a new stake in Fate Therapeutics during the 2nd quarter valued at approximately $131,000. Finally, BlackRock Inc. grew its stake in Fate Therapeutics by 2.6% during the 4th quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock valued at $10,421,000 after purchasing an additional 43,499 shares in the last quarter. Hedge funds and other institutional investors own 50.00% of the company’s stock.

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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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