Fate Therapeutics (NASDAQ:FATE) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday, January 23rd.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Tuesday, January 9th. Wedbush restated an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Monday, December 18th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Thursday, October 12th. Piper Jaffray Companies initiated coverage on Fate Therapeutics in a research note on Monday, December 18th. They issued an “overweight” rating and a $10.00 price objective for the company. Finally, Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Fate Therapeutics presently has a consensus rating of “Buy” and an average price target of $7.71.
Shares of Fate Therapeutics (NASDAQ:FATE) traded up $0.14 during midday trading on Tuesday, reaching $7.99. The company’s stock had a trading volume of 404,967 shares, compared to its average volume of 615,960. 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 firm has a market capitalization of $397.66, a P/E ratio of -8.35 and a beta of 2.00. Fate Therapeutics has a fifty-two week low of $2.52 and a fifty-two week high of $9.78.
A number of hedge funds have recently made changes to their positions in FATE. Northern Trust Corp increased its position in shares of Fate Therapeutics by 968.7% in the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after buying an additional 333,753 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Fate Therapeutics by 164.7% in the second 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 during the last quarter. TIAA CREF Investment Management LLC acquired a new stake in shares of Fate Therapeutics in the second quarter worth approximately $373,000. OxFORD Asset Management LLP acquired a new stake in shares of Fate Therapeutics in the second quarter worth approximately $303,000. Finally, Vanguard Group Inc. boosted its stake in shares of Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock worth $4,096,000 after acquiring an additional 108,602 shares during the last quarter. Institutional investors own 50.00% of the company’s stock.
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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.
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