Fate Therapeutics (NASDAQ:FATE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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 equities analysts have also commented on FATE. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, October 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. ValuEngine lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Raymond James Financial reaffirmed a “buy” rating on shares of Fate Therapeutics in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies started coverage on Fate Therapeutics in a research note on Monday, December 18th. They issued an “overweight” rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $7.71.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative return on equity of 84.90% and a negative net margin of 1,041.33%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.95 million. Fate Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. equities research analysts predict that Fate Therapeutics will post -0.98 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Hochman Cole Investment Advisors Inc. purchased a new stake in shares of Fate Therapeutics in the 3rd quarter valued at $158,000. New York State Common Retirement Fund purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at $131,000. Rhumbline Advisers purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at $133,000. Russell Investments Group Ltd. purchased a new stake in shares of Fate Therapeutics in the 3rd quarter valued at $234,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at $214,000. 49.86% of the stock is currently owned by institutional investors and hedge funds.
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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.
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