Fate Therapeutics (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, January 19th. The firm currently has a $8.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 0.13% from the company’s previous close.
According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “
FATE has been the topic of several other research reports. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. 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. Wedbush restated an “outperform” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Fate Therapeutics in a research note on Thursday, January 18th. BMO Capital Markets restated a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Thursday, November 2nd. Finally, Piper Jaffray Companies assumed coverage on Fate Therapeutics in a research report on Monday, December 18th. They issued an “overweight” rating and a $10.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.71.
Shares of Fate Therapeutics (FATE) traded up $0.14 during trading on Friday, hitting $7.99. 404,967 shares of the stock traded hands, compared to its average volume of 615,960. The firm has a market capitalization of $397.66, a P/E ratio of -8.50 and a beta of 2.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. Fate Therapeutics has a twelve month low of $2.52 and a twelve month high of $9.78.
A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates bought a new position in Fate Therapeutics in the fourth quarter worth $141,000. Two Sigma Investments LP bought a new position in shares of Fate Therapeutics during the fourth quarter valued at $1,043,000. Two Sigma Advisers LP lifted its holdings in shares of Fate Therapeutics by 257.0% during the fourth quarter. Two Sigma Advisers LP now owns 71,400 shares of the biopharmaceutical company’s stock valued at $436,000 after acquiring an additional 51,400 shares during the period. Deutsche Bank AG lifted its holdings in shares of Fate Therapeutics by 146.5% during the fourth quarter. Deutsche Bank AG now owns 86,531 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 51,433 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Fate Therapeutics by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 347,573 shares of the biopharmaceutical company’s stock valued at $2,123,000 after acquiring an additional 45,142 shares during the period. 50.00% of the stock is owned by hedge funds and other 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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