BidaskClub cut shares of Fate Therapeutics (NASDAQ:FATE) from a strong-buy rating to a buy rating in a report released on Tuesday.
Several other research firms have also commented on FATE. Piper Jaffray Companies restated a top pick rating and set a $20.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 6th. Wedbush restated an outperform rating and set a $10.00 price target (down from $19.00) on shares of Fate Therapeutics in a research report on Tuesday, March 6th. BMO Capital Markets raised their price target on Fate Therapeutics from $7.00 to $20.00 and gave the stock an outperform rating in a research report on Tuesday, March 6th. Wells Fargo & Co restated an outperform rating and set a $19.00 price target (up from $10.00) on shares of Fate Therapeutics in a research report on Tuesday, March 6th. Finally, HC Wainwright lowered Fate Therapeutics from a buy rating to a neutral rating and set a $12.00 price target for the company. in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Fate Therapeutics presently has a consensus rating of Buy and a consensus target price of $15.00.
FATE opened at $11.16 on Tuesday. Fate Therapeutics has a fifty-two week low of $2.52 and a fifty-two week high of $14.45. The stock has a market cap of $611.04 million, a P/E ratio of -10.94 and a beta of 1.75. The company has a current ratio of 7.20, a quick ratio of 7.20 and a debt-to-equity ratio of 0.22.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Fate Therapeutics had a negative return on equity of 77.27% and a negative net margin of 1,143.99%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $1.82 million. The business’s quarterly revenue was up .0% compared to the same quarter last year. sell-side analysts predict that Fate Therapeutics will post -1.05 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its holdings in Fate Therapeutics by 21.8% in the first quarter. Redmile Group LLC now owns 6,655,962 shares of the biopharmaceutical company’s stock valued at $64,962,000 after purchasing an additional 1,190,476 shares during the period. BlackRock Inc. boosted its holdings in Fate Therapeutics by 70.2% in the first quarter. BlackRock Inc. now owns 2,903,009 shares of the biopharmaceutical company’s stock valued at $28,332,000 after purchasing an additional 1,197,716 shares during the period. 683 Capital Management LLC boosted its holdings in Fate Therapeutics by 25.8% in the fourth quarter. 683 Capital Management LLC now owns 853,800 shares of the biopharmaceutical company’s stock valued at $5,217,000 after purchasing an additional 175,000 shares during the period. Artal Group S.A. purchased a new position in Fate Therapeutics in the first quarter valued at $8,296,000. Finally, Victory Capital Management Inc. boosted its holdings in Fate Therapeutics by 71.8% in the first quarter. Victory Capital Management Inc. now owns 574,890 shares of the biopharmaceutical company’s stock valued at $5,611,000 after purchasing an additional 240,210 shares during the period. Hedge funds and other institutional investors own 74.56% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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