Wedbush reaffirmed their outperform rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report published on Monday, December 18th. Wedbush currently has a $7.00 target price on the biopharmaceutical company’s stock.
A number of other analysts also recently weighed in on FATE. Zacks Investment Research downgraded Fate Therapeutics from a buy rating to a hold rating in a report on Tuesday, October 17th. BMO Capital Markets reissued a buy rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Thursday, November 2nd. HC Wainwright reissued a buy rating on shares of Fate Therapeutics in a research report on Thursday, November 2nd. ValuEngine cut shares of Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, September 22nd. Finally, Raymond James Financial reissued a buy rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Fate Therapeutics has an average rating of Buy and an average price target of $7.64.
Shares of Fate Therapeutics (NASDAQ:FATE) traded up $0.10 during trading on Monday, reaching $6.80. The company’s stock had a trading volume of 408,410 shares, compared to its average volume of 662,946. 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 52-week low of $2.52 and a 52-week high of $7.25. The firm has a market cap of $346.68, a P/E ratio of -7.16 and a beta of 1.52.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.95 million. The company’s quarterly revenue was up .0% on a year-over-year basis. analysts forecast that Fate Therapeutics will post -0.99 earnings per share for the current fiscal year.
In related news, General Counsel Cindy Tahl sold 8,091 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.85, for a total value of $31,150.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FATE. New York State Common Retirement Fund bought a new position in Fate Therapeutics in the 2nd quarter valued at about $131,000. Rhumbline Advisers bought a new position in Fate Therapeutics in the 2nd quarter valued at about $133,000. Hochman Cole Investment Advisors Inc. bought a new position in Fate Therapeutics in the 3rd quarter valued at about $158,000. Schwab Charles Investment Management Inc. bought a new position in Fate Therapeutics in the 2nd quarter valued at about $214,000. Finally, California State Teachers Retirement System bought a new position in Fate Therapeutics in the 2nd quarter valued at about $219,000. 49.85% of the stock is currently owned by institutional investors and hedge funds.
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Fate Therapeutics Company Profile
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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