BidaskClub upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.
Other equities analysts have also recently issued reports about the company. HC Wainwright reiterated a hold rating and issued a $12.00 target price on shares of Fate Therapeutics in a report on Tuesday, August 7th. Piper Jaffray Companies reiterated an overweight rating and issued a $25.00 target price on shares of Fate Therapeutics in a report on Tuesday, September 18th. Wedbush reiterated an outperform rating and issued a $19.00 target price on shares of Fate Therapeutics in a report on Tuesday, August 7th. Zacks Investment Research upgraded Fate Therapeutics from a sell rating to a hold rating in a report on Friday, September 21st. Finally, Jefferies Financial Group assumed coverage on Fate Therapeutics in a report on Monday, November 5th. They issued a buy rating and a $17.00 target price on the stock. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $17.25.
Shares of FATE opened at $16.54 on Wednesday. Fate Therapeutics has a 12-month low of $4.08 and a 12-month high of $17.98. 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 capitalization of $1.02 billion, a P/E ratio of -16.22 and a beta of 2.05.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.24 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Fate Therapeutics will post -1.21 earnings per share for the current fiscal year.
In related news, Director Redmile Group, Llc purchased 3,703,704 shares of the stock in a transaction that occurred on Tuesday, September 25th. The stock was acquired at an average cost of $13.50 per share, with a total value of $50,000,004.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. Redmile Group LLC raised its position in Fate Therapeutics by 58.9% in the 3rd quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock valued at $172,289,000 after buying an additional 3,920,401 shares during the last quarter. Partner Fund Management L.P. purchased a new stake in Fate Therapeutics in the 3rd quarter valued at $24,455,000. FMR LLC raised its position in Fate Therapeutics by 15.3% in the 3rd quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock valued at $124,413,000 after buying an additional 1,011,596 shares during the last quarter. Millennium Management LLC purchased a new stake in Fate Therapeutics in the 2nd quarter valued at $7,770,000. Finally, Aquilo Capital Management LLC purchased a new stake in Fate Therapeutics in the 2nd quarter valued at $6,579,000. 84.92% of the stock is owned by institutional investors and hedge funds.
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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