Fate Therapeutics (NASDAQ:FATE) had its target price increased by analysts at Wedbush from $19.00 to $21.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target indicates a potential upside of 39.81% from the company’s current price.
FATE has been the subject of a number of other research reports. Zacks Investment Research cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, January 7th. BidaskClub cut shares of Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 19th. Jefferies Financial Group initiated coverage on shares of Fate Therapeutics in a report on Monday, November 5th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Stephens cut shares of Fate Therapeutics from an “overweight” rating to an “equal” rating in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.86.
Shares of Fate Therapeutics stock traded up $0.95 during trading on Monday, hitting $15.02. 21,220 shares of the company’s stock were exchanged, compared to its average volume of 584,804. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.44 and a quick ratio of 9.44. Fate Therapeutics has a 52-week low of $7.60 and a 52-week high of $17.98. The stock has a market cap of $908.92 million, a PE ratio of -14.78 and a beta of 2.06.
In other news, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $16.00, for a total value of $400,000.00. Following the sale, the general counsel now owns 47,426 shares in the company, valued at $758,816. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amir Nashat sold 82,528 shares of the business’s stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total transaction of $1,379,042.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,026 shares of company stock worth $6,928,487. Company insiders own 9.89% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fate Therapeutics by 61.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 1,464 shares during the last quarter. Jane Street Group LLC acquired a new position in Fate Therapeutics during the second quarter worth about $116,000. Creative Planning acquired a new position in Fate Therapeutics during the fourth quarter worth about $141,000. Partner Investment Management L.P. acquired a new position in Fate Therapeutics during the third quarter worth about $202,000. Finally, PNC Financial Services Group Inc. boosted its position in Fate Therapeutics by 45.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock worth $176,000 after acquiring an additional 4,260 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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