Wedbush restated their outperform rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report sent to investors on Thursday. They currently have a $7.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $10.00.
FATE has been the subject of several other reports. ValuEngine raised Fate Therapeutics from a sell rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research raised Fate Therapeutics from a hold rating to a buy rating and set a $7.50 price objective for the company in a research report on Tuesday, January 9th. Raymond James Financial reaffirmed a buy rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. BMO Capital Markets reaffirmed a buy rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Finally, Piper Jaffray Companies assumed coverage on Fate Therapeutics in a research report on Monday, December 18th. They set an overweight rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $7.64.
Fate Therapeutics (NASDAQ FATE) traded up $0.19 on Thursday, reaching $7.37. The company had a trading volume of 413,633 shares, compared to its average volume of 525,577. Fate Therapeutics has a 1 year low of $2.52 and a 1 year high of $7.40. The firm has a market cap of $366.05, a PE ratio of -7.76 and a beta of 1.52. 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 released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.95 million. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. equities research analysts anticipate that Fate Therapeutics will post -0.98 EPS for the current year.
Several large investors have recently added to or reduced their stakes in FATE. Schwab Charles Investment Management Inc. acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $214,000. Rhumbline Advisers acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $133,000. Bank of New York Mellon Corp boosted its position 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 acquiring an additional 98,036 shares in the last quarter. Teachers Advisors LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $233,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $373,000. 49.85% of the stock is 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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