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.
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.
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