Fate Therapeutics, Inc. (FATE) Raised to Buy at Zacks Investment Research
Fate Therapeutics, Inc. (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $4.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.29% from the stock’s previous close.
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. “
Several other research firms have also weighed in on FATE. Leerink Swann reaffirmed an “outperform” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Friday. ValuEngine raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, May 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.63.
Shares of Fate Therapeutics (FATE) traded down 1.67% during trading on Friday, hitting $4.12. The stock had a trading volume of 291,230 shares. The company’s market capitalization is $170.63 million. The firm has a 50 day moving average of $3.17 and a 200 day moving average of $3.74. Fate Therapeutics has a 1-year low of $1.80 and a 1-year high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.01. Fate Therapeutics had a negative return on equity of 67.01% and a negative net margin of 887.68%. The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.02 million. Analysts expect that Fate Therapeutics will post ($0.96) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the business. Creative Planning increased its position in shares of Fate Therapeutics by 35.3% during the 1st quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 6,000 shares during the last quarter. KCG Holdings Inc. increased its position in shares of Fate Therapeutics by 7.8% during the 1st quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 1,764 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $131,000. Rhumbline Advisers acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $133,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Fate Therapeutics during the 1st quarter worth approximately $145,000. 64.27% 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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