Fate Therapeutics Inc (NASDAQ:FATE) traded down 10% during trading on Thursday . The company traded as low as $13.57 and last traded at $13.59. 622,955 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 660,276 shares. The stock had previously closed at $15.10.
A number of equities research analysts have recently commented on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 target price on shares of Fate Therapeutics in a research report on Tuesday, September 25th. BidaskClub upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Jefferies Financial Group assumed coverage on shares of Fate Therapeutics in a research report on Monday, November 5th. They issued a “buy” rating and a $17.00 target price for the company. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $19.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Fate Therapeutics presently has a consensus rating of “Buy” and an average target price of $17.25.
The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.44 and a current ratio of 9.44.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.24 million. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts forecast that Fate Therapeutics Inc will post -1.21 earnings per share for the current fiscal year.
In other news, Director Redmile Group, Llc acquired 3,703,704 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.89% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FATE. Northern Trust Corp increased its position in Fate Therapeutics by 27.9% during the first quarter. Northern Trust Corp now owns 496,919 shares of the biopharmaceutical company’s stock worth $4,850,000 after purchasing an additional 108,503 shares during the last quarter. BlackRock Inc. increased its position in Fate Therapeutics by 70.2% during the first quarter. BlackRock Inc. now owns 2,903,009 shares of the biopharmaceutical company’s stock worth $28,332,000 after purchasing an additional 1,197,716 shares during the last quarter. California State Teachers Retirement System increased its position in Fate Therapeutics by 21.5% during the first quarter. California State Teachers Retirement System now owns 73,532 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 13,032 shares during the last quarter. Boston Advisors LLC increased its position in Fate Therapeutics by 12.8% during the second quarter. Boston Advisors LLC now owns 58,030 shares of the biopharmaceutical company’s stock worth $658,000 after purchasing an additional 6,570 shares during the last quarter. Finally, Columbus Circle Investors increased its position in Fate Therapeutics by 16.5% during the second quarter. Columbus Circle Investors now owns 259,213 shares of the biopharmaceutical company’s stock worth $2,939,000 after purchasing an additional 36,655 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
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Fate Therapeutics Company Profile (NASDAQ:FATE)
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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