Fate Therapeutics (FATE) Stock Rating Lowered by ValuEngine

Fate Therapeutics (NASDAQ:FATE) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, December 1st.

Several other equities analysts also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, October 12th. Leerink Swann restated an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Friday, September 8th. Zacks Investment Research downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, BMO Capital Markets restated a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $6.79.

Shares of Fate Therapeutics (FATE) opened at $4.65 on Friday. Fate Therapeutics has a 1-year low of $2.40 and a 1-year high of $5.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The company had revenue of $1.03 million during the quarter, compared to analyst estimates of $0.95 million. The company’s revenue was up .0% on a year-over-year basis. research analysts forecast that Fate Therapeutics will post -0.99 EPS for the current fiscal year.

In other news, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.87, for a total transaction of $51,180.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FATE. State Street Corp purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $1,437,000. Northern Trust Corp lifted its position in Fate Therapeutics by 968.7% in the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after acquiring an additional 333,753 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Fate Therapeutics by 479.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock valued at $655,000 after acquiring an additional 119,200 shares during the last quarter. TIAA CREF Investment Management LLC purchased a new stake in Fate Therapeutics in the second quarter valued at $373,000. Finally, Vanguard Group Inc. lifted its position in Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after acquiring an additional 108,602 shares during the last quarter. 60.97% of the stock is owned by institutional investors and hedge funds.

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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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