Fate Therapeutics Inc (FATE) Receives Average Recommendation of “Buy” from Analysts

Shares of Fate Therapeutics Inc (NASDAQ:FATE) have been given an average recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.67.

Several research firms have recently weighed in on FATE. ValuEngine upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Investment Research downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BMO Capital Markets reiterated a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a research note on Thursday, November 2nd. Finally, Piper Jaffray Companies began coverage on Fate Therapeutics in a research note on Monday, December 18th. They set an “overweight” rating and a $10.00 price target for the company.

In related news, General Counsel Cindy Tahl sold 8,091 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel D. Shoemaker sold 13,225 shares of the stock in a transaction dated 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. Corporate insiders own 10.88% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Hochman Cole Investment Advisors Inc. purchased a new stake in Fate Therapeutics during the 3rd quarter worth about $158,000. New York State Common Retirement Fund purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $131,000. Rhumbline Advisers purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $133,000. Russell Investments Group Ltd. purchased a new stake in shares of Fate Therapeutics in the 3rd quarter valued at about $234,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $214,000. 49.85% of the stock is currently owned by institutional investors and hedge funds.

Fate Therapeutics (NASDAQ:FATE) opened at $6.50 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. The firm has a market capitalization of $331.38, a price-to-earnings ratio of -6.84 and a beta of 1.52. Fate Therapeutics has a 12 month low of $2.44 and a 12 month high of $6.75.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The company’s revenue for the quarter was up .0% on a year-over-year basis. research analysts forecast that Fate Therapeutics will post -0.99 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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