HC Wainwright restated their buy rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note released on Wednesday morning. The brokerage currently has a $7.00 price objective on the biopharmaceutical company’s stock.
A number of other equities analysts also recently issued reports on the company. Raymond James Financial reaffirmed a buy rating on shares of Fate Therapeutics in a research report on Tuesday. ValuEngine downgraded Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. BMO Capital Markets reissued a buy rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Fate Therapeutics from a buy rating to a hold rating in a research report on Tuesday, October 17th. Finally, Leerink Swann reissued an outperform rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $6.79.
Shares of Fate Therapeutics (NASDAQ:FATE) traded up $0.22 during mid-day trading on Wednesday, hitting $4.65. The stock had a trading volume of 2,658,400 shares, compared to its average volume of 297,247. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. Fate Therapeutics has a 1-year low of $2.40 and a 1-year high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The firm’s revenue was up .0% compared to the same quarter last year. analysts predict that Fate Therapeutics will post -0.99 earnings per share for the current year.
In other Fate Therapeutics news, General Counsel Cindy Tahl sold 8,091 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel D. Shoemaker sold 13,225 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.87, for a total value of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of Fate Therapeutics by 9.8% during the 1st quarter. Morgan Stanley now owns 611,646 shares of the biopharmaceutical company’s stock worth $2,783,000 after acquiring an additional 54,615 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Fate Therapeutics by 40.9% during the 1st quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock worth $1,345,000 after acquiring an additional 85,800 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Fate Therapeutics by 479.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock worth $655,000 after acquiring an additional 119,200 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth about $214,000. Finally, Rhumbline Advisers purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth about $133,000. 60.97% of the stock is currently owned by institutional investors.
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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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