Fate Therapeutics (FATE) Receives $16.17 Average PT from Analysts

Shares of Fate Therapeutics (NASDAQ:FATE) have been assigned an average recommendation of “Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.17.

Several equities analysts have recently issued reports on FATE shares. ValuEngine upgraded Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Piper Jaffray restated a “top pick” rating and set a $20.00 target price on shares of Fate Therapeutics in a research report on Tuesday, March 6th. BidaskClub lowered Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Wedbush restated an “outperform” rating and set a $10.00 target price (down from $19.00) on shares of Fate Therapeutics in a research report on Tuesday, March 6th.

Several institutional investors and hedge funds have recently modified their holdings of FATE. Victory Capital Management Inc. grew its position in shares of Fate Therapeutics by 260.7% in the 4th quarter. Victory Capital Management Inc. now owns 334,680 shares of the biopharmaceutical company’s stock valued at $2,045,000 after purchasing an additional 241,890 shares during the period. Wells Fargo & Company MN grew its position in shares of Fate Therapeutics by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 328,023 shares of the biopharmaceutical company’s stock valued at $2,004,000 after purchasing an additional 84,269 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 12,686 shares during the period. BlackRock Inc. grew its position in shares of Fate Therapeutics by 2.6% in the 4th quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock valued at $10,421,000 after purchasing an additional 43,499 shares during the period. Finally, Monashee Investment Management LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at approximately $1,833,000. Institutional investors and hedge funds own 66.78% of the company’s stock.

Shares of Fate Therapeutics stock traded up $0.49 during trading on Wednesday, hitting $10.18. 438,974 shares of the company were exchanged, compared to its average volume of 692,798. The firm has a market capitalization of $484.18 million, a P/E ratio of -9.98 and a beta of 1.74. Fate Therapeutics has a 1-year low of $9.53 and a 1-year high of $9.96. The company has a current ratio of 7.20, a quick ratio of 7.20 and a debt-to-equity ratio of 0.22.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.05). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.82 million. Fate Therapeutics had a negative return on equity of 77.27% and a negative net margin of 1,143.99%. The business’s quarterly revenue was up .0% on a year-over-year basis. research analysts anticipate that Fate Therapeutics will post -0.98 EPS for the current fiscal year.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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