Fate Therapeutics (NASDAQ:FATE) Rating Reiterated by Cantor Fitzgerald

Fate Therapeutics (NASDAQ:FATEGet Rating)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Fate Therapeutics’ FY2022 earnings at ($3.15) EPS and FY2023 earnings at ($3.95) EPS.

Other research analysts have also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of Fate Therapeutics from $45.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, September 9th. Oppenheimer dropped their target price on shares of Fate Therapeutics from $135.00 to $90.00 in a report on Thursday, August 4th. Needham & Company LLC initiated coverage on shares of Fate Therapeutics in a report on Thursday, July 28th. They issued a “hold” rating for the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Fate Therapeutics in a report on Thursday, August 18th. Finally, BMO Capital Markets raised shares of Fate Therapeutics from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $50.00 to $47.00 in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Fate Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $74.46.

Fate Therapeutics Stock Down 4.3 %

Shares of NASDAQ:FATE opened at $22.47 on Wednesday. The company has a market cap of $2.18 billion, a P/E ratio of -8.51 and a beta of 1.68. Fate Therapeutics has a 52 week low of $17.10 and a 52 week high of $70.29. The company has a 50-day moving average price of $29.57 and a 200 day moving average price of $29.53.

Fate Therapeutics (NASDAQ:FATEGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.07. The firm had revenue of $18.55 million during the quarter, compared to the consensus estimate of $13.42 million. Fate Therapeutics had a negative net margin of 371.73% and a negative return on equity of 40.37%. Analysts expect that Fate Therapeutics will post -3.42 EPS for the current year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, insider Mark Plavsic sold 3,719 shares of Fate Therapeutics stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $24.61, for a total value of $91,524.59. Following the transaction, the insider now owns 127,123 shares in the company, valued at approximately $3,128,497.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Mark Plavsic sold 3,719 shares of Fate Therapeutics stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $24.61, for a total transaction of $91,524.59. Following the transaction, the insider now owns 127,123 shares in the company, valued at approximately $3,128,497.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Scott Wolchko sold 30,000 shares of Fate Therapeutics stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total transaction of $986,400.00. Following the transaction, the chief executive officer now owns 431,546 shares in the company, valued at approximately $14,189,232.48. The disclosure for this sale can be found here. Insiders have sold a total of 56,012 shares of company stock worth $1,749,685 in the last quarter. 17.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FATE. National Bank of Canada FI acquired a new position in Fate Therapeutics in the 2nd quarter worth $25,000. Compagnie Lombard Odier SCmA acquired a new position in Fate Therapeutics in the 1st quarter worth $70,000. Virtus ETF Advisers LLC lifted its holdings in Fate Therapeutics by 80.1% in the 2nd quarter. Virtus ETF Advisers LLC now owns 5,566 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 2,475 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Fate Therapeutics in the 1st quarter worth $180,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Fate Therapeutics in the 1st quarter worth $205,000.

About Fate Therapeutics

(Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

Further Reading

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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