Fate Therapeutics (FATE) Shares Gap Down to $15.74

Shares of Fate Therapeutics Inc (NASDAQ:FATE) gapped down prior to trading on Friday . The stock had previously closed at $15.00, but opened at $15.74. Fate Therapeutics shares last traded at $16.49, with a volume of 13191 shares traded.

FATE has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Fate Therapeutics in a report on Monday, November 5th. They issued a “buy” rating and a $17.00 target price on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 target price on shares of Fate Therapeutics in a report on Tuesday, September 25th. BidaskClub upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $17.25.

The company has a current ratio of 9.44, a quick ratio of 9.44 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.10 billion, a PE ratio of -16.29 and a beta of 2.05.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. 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 prior year, the firm earned ($0.26) EPS. The firm’s revenue was up .0% compared to the same quarter last year. Equities 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 purchased 3,703,704 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were acquired at an average price of $13.50 per share, for a total transaction of $50,000,004.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.89% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Fate Therapeutics by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,448,279 shares of the biopharmaceutical company’s stock valued at $39,882,000 after buying an additional 275,828 shares during the period. Neuberger Berman Group LLC increased its stake in Fate Therapeutics by 700.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 120,000 shares of the biopharmaceutical company’s stock valued at $1,955,000 after buying an additional 105,000 shares during the period. HRT Financial LLC acquired a new position in Fate Therapeutics in the 3rd quarter valued at approximately $583,000. MetLife Investment Advisors LLC increased its stake in Fate Therapeutics by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 35,818 shares of the biopharmaceutical company’s stock valued at $583,000 after buying an additional 12,740 shares during the period. Finally, Sofinnova Ventures Inc acquired a new position in Fate Therapeutics in the 3rd quarter valued at approximately $1,709,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.

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About Fate Therapeutics (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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