Fate Therapeutics (FATE) Upgraded to Hold at ValuEngine

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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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