Fate Therapeutics, Inc. (NASDAQ:FATE)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Thursday, November 2nd.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Friday, September 8th. BMO Capital Markets reissued a “buy” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Thursday, November 2nd. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $6.79.
Shares of Fate Therapeutics (NASDAQ FATE) opened at $4.27 on Thursday. Fate Therapeutics has a fifty-two week low of $2.40 and a fifty-two week high of $5.68. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.32.
Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. The business’s revenue was up .0% on a year-over-year basis. research analysts expect 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 stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.85, for a total value of $31,150.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of the stock in a transaction 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. Insiders own 10.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC boosted its holdings in Fate Therapeutics by 167.6% during the third quarter. Neuberger Berman Group LLC now owns 133,000 shares of the biopharmaceutical company’s stock worth $527,000 after buying an additional 83,300 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Fate Therapeutics during the third quarter worth $234,000. Hochman Cole Investment Advisors Inc. purchased a new stake in Fate Therapeutics during the third quarter worth $158,000. Victory Capital Management Inc. purchased a new stake in Fate Therapeutics during the third quarter worth $367,000. Finally, California State Teachers Retirement System purchased a new position in Fate Therapeutics during the second quarter valued at $219,000. 63.08% of the stock is currently owned by hedge funds and other institutional investors.
Fate Therapeutics Company Profile
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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