Piper Jaffray Companies began coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research report report published on Monday, December 18th, Marketbeat.com reports. The firm issued an overweight rating and a $10.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts have also commented on the company. HC Wainwright reaffirmed a buy rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Thursday, October 12th. Leerink Swann reaffirmed an outperform rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, September 8th. Zacks Investment Research lowered Fate Therapeutics from a buy rating to a hold rating in a research report on Wednesday, September 6th. Raymond James Financial reaffirmed a buy rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. Finally, ValuEngine lowered Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $7.64.
Shares of Fate Therapeutics (NASDAQ FATE) opened at $7.01 on Monday. The firm has a market capitalization of $357.38, a PE ratio of -7.38 and a beta of 1.52. Fate Therapeutics has a fifty-two week low of $2.52 and a fifty-two week high of $7.25. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.32.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $0.95 million. Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The business’s revenue was up .0% on a year-over-year basis. equities analysts predict that Fate Therapeutics will post -0.98 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 that occurred on Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel D. Shoemaker sold 13,225 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were 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 corporate insiders.
Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund bought a new position in Fate Therapeutics during the 2nd quarter valued at approximately $131,000. Rhumbline Advisers bought a new position in Fate Therapeutics during the 2nd quarter valued at approximately $133,000. Hochman Cole Investment Advisors Inc. bought a new position in Fate Therapeutics during the 3rd quarter valued at approximately $158,000. Schwab Charles Investment Management Inc. purchased a new stake in Fate Therapeutics during the 2nd quarter valued at $214,000. Finally, California State Teachers Retirement System purchased a new stake in Fate Therapeutics during the 2nd quarter valued at $219,000. 49.85% of the stock is owned by institutional investors.
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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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