ValuEngine upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a sell rating to a hold rating in a report published on Friday, December 22nd.
A number of other analysts also recently issued reports on the stock. Wedbush reiterated an outperform rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Monday, December 18th. Piper Jaffray Companies began coverage on shares of Fate Therapeutics in a report on Monday, December 18th. They issued an overweight rating and a $10.00 price target on the stock. HC Wainwright reiterated a buy rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Wednesday, December 13th. Raymond James Financial restated a buy rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. Finally, BMO Capital Markets restated a buy rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $7.64.
Shares of Fate Therapeutics (NASDAQ FATE) traded up $0.21 during midday trading on Friday, reaching $7.01. 427,494 shares of the company’s stock were exchanged, compared to its average volume of 653,994. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. The company has a market cap of $357.38, a P/E ratio of -7.46 and a beta of 1.52. Fate Therapeutics has a one year low of $2.52 and a one year high of $7.25.
Fate Therapeutics (NASDAQ:FATE) last announced 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 company had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The company’s quarterly revenue was up .0% on a year-over-year basis. equities analysts anticipate 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 Fate Therapeutics stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction dated Monday, October 16th. The stock was 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. Insiders own 10.88% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FATE. Schwab Charles Investment Management Inc. purchased a new position in shares of Fate Therapeutics during the 2nd quarter worth about $214,000. Rhumbline Advisers purchased a new position in shares of Fate Therapeutics during the 2nd quarter worth about $133,000. Bank of New York Mellon Corp boosted its stake in shares of Fate Therapeutics by 164.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock worth $511,000 after purchasing an additional 98,036 shares during the period. Teachers Advisors LLC purchased a new position in shares of Fate Therapeutics during the 2nd quarter worth about $233,000. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Fate Therapeutics during the 2nd quarter worth about $373,000. 49.85% of the stock is owned by hedge funds and other 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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