BMO Capital Markets reiterated their buy rating on shares of Fate Therapeutics, Inc. (NASDAQ:FATE) in a research report report published on Thursday, November 2nd. They currently have a $7.00 price target on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Fate Therapeutics from a hold rating to a sell rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Fate Therapeutics from a hold rating to a buy rating and set a $3.50 target price on the stock in a report on Thursday, August 17th. Leerink Swann restated an outperform rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Friday, September 8th. Finally, HC Wainwright reaffirmed a buy rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Fate Therapeutics presently has an average rating of Buy and a consensus price target of $6.79.
Shares of Fate Therapeutics (NASDAQ FATE) opened at $4.27 on Thursday. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. Fate Therapeutics has a fifty-two week low of $2.40 and a fifty-two week high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The company’s quarterly revenue was up .0% on a year-over-year basis. analysts forecast that Fate Therapeutics will post -0.99 EPS for the current year.
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In other news, General Counsel Cindy Tahl sold 8,091 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $3.85, for a total value of $31,150.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Fate Therapeutics by 164.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 98,036 shares in the last quarter. Morgan Stanley increased its stake in Fate Therapeutics by 9.8% during the 1st quarter. Morgan Stanley now owns 611,646 shares of the biopharmaceutical company’s stock valued at $2,783,000 after purchasing an additional 54,615 shares in the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of Fate Therapeutics in the second quarter worth $303,000. Driehaus Capital Management LLC acquired a new stake in shares of Fate Therapeutics in the first quarter worth $145,000. Finally, Hochman Cole Investment Advisors Inc. acquired a new stake in shares of Fate Therapeutics in the third quarter worth $158,000. Hedge funds and other institutional investors own 63.08% of the company’s stock.
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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