Fate Therapeutics Inc (NASDAQ:FATE) has received an average recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $18.57.
FATE has been the subject of several research analyst reports. BidaskClub raised Fate Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Citigroup initiated coverage on Fate Therapeutics in a research note on Wednesday, August 1st. They issued a “buy” rating and a $20.00 price objective for the company. Jefferies Financial Group initiated coverage on Fate Therapeutics in a research note on Monday. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Finally, HC Wainwright reissued a “hold” rating and issued a $12.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, August 7th.
In other news, Director Redmile Group, Llc purchased 3,703,704 shares of the business’s stock in a transaction dated Tuesday, September 25th. The stock was bought at an average cost of $13.50 per share, with a total value of $50,000,004.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 9.89% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of FATE. Jane Street Group LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth about $116,000. PNC Financial Services Group Inc. bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at approximately $120,000. Quantitative Systematic Strategies LLC bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at approximately $129,000. First Mercantile Trust Co. raised its stake in shares of Fate Therapeutics by 113.7% in the 2nd quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 6,863 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Fate Therapeutics by 201.9% in the 1st quarter. Barclays PLC now owns 18,805 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 12,577 shares in the last quarter. 80.69% of the stock is owned by institutional investors.
Shares of NASDAQ:FATE traded down $0.04 during midday trading on Wednesday, reaching $14.71. The company had a trading volume of 46,478 shares, compared to its average volume of 716,385. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07. Fate Therapeutics has a 1-year low of $3.80 and a 1-year high of $16.94. The firm has a market capitalization of $951.65 million, a price-to-earnings ratio of -14.17 and a beta of 1.95.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.06). The company had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.24 million. Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.26) EPS. Equities analysts predict that Fate Therapeutics will post -1.16 earnings per share for the current year.
Fate Therapeutics Company Profile
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.
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