Fate Therapeutics (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $7.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.94% from the company’s current price.
According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “
A number of other equities research analysts have also recently issued reports on FATE. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Wedbush reissued an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Monday, December 18th. Piper Jaffray Companies assumed coverage on shares of Fate Therapeutics in a research report on Monday, December 18th. They issued an “overweight” rating and a $10.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Wednesday, December 13th. Finally, Raymond James Financial reissued a “buy” rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Fate Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $7.64.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The company had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.95 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. research analysts expect that Fate Therapeutics will post -0.99 EPS for the current fiscal year.
In related news, insider Daniel D. Shoemaker sold 13,225 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.87, for a total value of $51,180.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Cindy Tahl sold 8,091 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.85, for a total value of $31,150.35. The disclosure for this sale can be found here. Insiders own 10.88% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Hochman Cole Investment Advisors Inc. acquired a new position in Fate Therapeutics in the third quarter valued at about $158,000. New York State Common Retirement Fund acquired a new position in Fate Therapeutics in the second quarter valued at about $131,000. Rhumbline Advisers acquired a new position in Fate Therapeutics in the second quarter valued at about $133,000. Russell Investments Group Ltd. acquired a new position in Fate Therapeutics in the third quarter valued at about $234,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Fate Therapeutics in the second quarter valued at about $214,000. 49.85% of the stock is owned by institutional investors and hedge funds.
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About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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