ValuEngine Lowers Fate Therapeutics (FATE) to Sell

Fate Therapeutics (NASDAQ:FATE) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other research firms also recently commented on FATE. Zacks Investment Research downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BMO Capital Markets reiterated a “buy” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Thursday, November 2nd. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Finally, Leerink Swann reiterated an “outperform” rating and set a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, September 8th. One equities 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. Fate Therapeutics has a consensus rating of “Buy” and a consensus target price of $6.79.

Fate Therapeutics (NASDAQ FATE) traded down $0.01 during trading on Friday, reaching $4.39. 176,338 shares of the company traded hands, compared to its average volume of 186,762. Fate Therapeutics has a one year low of $2.40 and a one year high of $5.68. 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 (NASDAQ:FATE) last released its earnings results 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 analysts’ expectations 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 revenue for the quarter was up .0% on a year-over-year basis. analysts forecast that Fate Therapeutics will post -0.99 EPS for the current year.

In other news, General Counsel Cindy Tahl sold 8,091 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel D. Shoemaker sold 13,225 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.87, for a total value of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of FATE. Bank of New York Mellon Corp lifted its position in Fate Therapeutics by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 59,510 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 952 shares during the last quarter. Morgan Stanley grew its stake in Fate Therapeutics by 9.8% in the first 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 during the last quarter. Renaissance Technologies LLC grew its stake in Fate Therapeutics by 40.9% in the first quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock valued at $1,345,000 after purchasing an additional 85,800 shares during the last quarter. KCG Holdings Inc. grew its stake in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 1,764 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Fate Therapeutics by 479.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock valued at $655,000 after purchasing an additional 119,200 shares during the last quarter. Institutional investors own 60.97% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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