Fate Therapeutics (FATE) Trading Down 8.8%

Fate Therapeutics Inc (NASDAQ:FATE) shares were down 8.8% during trading on Wednesday . The company traded as low as $8.03 and last traded at $8.32. Approximately 679,347 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 648,247 shares. The stock had previously closed at $9.12.

A number of research analysts recently commented on FATE shares. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Tuesday, January 9th. Raymond James Financial reaffirmed a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies started coverage on shares of Fate Therapeutics in a report on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Fate Therapeutics currently has an average rating of “Buy” and a consensus price target of $7.71.

The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. The stock has a market capitalization of $424.17, a price-to-earnings ratio of -8.76 and a beta of 1.52.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). The firm had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. Fate Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. equities research analysts predict that Fate Therapeutics Inc will post -0.98 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in FATE. New York State Common Retirement Fund bought a new stake in Fate Therapeutics in the second quarter worth about $131,000. Rhumbline Advisers bought a new stake in Fate Therapeutics in the second quarter worth about $133,000. Hochman Cole Investment Advisors Inc. bought a new stake in Fate Therapeutics in the third quarter worth about $158,000. Schwab Charles Investment Management Inc. bought a new stake in Fate Therapeutics in the second quarter worth about $214,000. Finally, California State Teachers Retirement System bought a new stake in Fate Therapeutics in the second quarter worth about $219,000. 49.86% 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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