Fate Therapeutics, Inc. (FATE) Receives Buy Rating from HC Wainwright
Fate Therapeutics, Inc. (NASDAQ:FATE)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $7.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 70.32% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Friday, September 8th. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $6.79.
Shares of Fate Therapeutics (NASDAQ:FATE) traded down 1.582% during mid-day trading on Thursday, hitting $4.045. The stock had a trading volume of 208,615 shares. The company’s 50 day moving average price is $3.97 and its 200 day moving average price is $3.68. Fate Therapeutics has a 12-month low of $1.80 and a 12-month high of $5.68. The stock’s market cap is $167.52 million.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.02 million. Equities research analysts predict that Fate Therapeutics will post ($0.97) EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $219,000. State Street Corp acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $1,437,000. OxFORD Asset Management LLP acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $303,000. Vanguard Group Inc. raised its stake in shares of Fate Therapeutics by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after purchasing an additional 108,602 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Fate Therapeutics by 968.7% in the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after purchasing an additional 333,753 shares in the last quarter. Institutional investors and hedge funds own 64.27% 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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