Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Wedbush issued their Q1 2019 EPS estimates for shares of Fate Therapeutics in a research note issued to investors on Monday, February 11th. Wedbush analyst D. Nierengarten forecasts that the biopharmaceutical company will earn ($0.19) per share for the quarter. Wedbush currently has a “Outperform” rating and a $21.00 target price on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q2 2019 earnings at ($0.27) EPS and FY2023 earnings at $0.95 EPS.
Several other equities research analysts also recently weighed in on FATE. Jefferies Financial Group started coverage on Fate Therapeutics in a research report on Monday, November 5th. They issued a “buy” rating and a $17.00 target price for the company. BidaskClub raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 5th. Stephens downgraded Fate Therapeutics from an “overweight” rating to an “equal” rating in a research report on Thursday, January 3rd. Finally, Zacks Investment Research downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.86.
Shares of NASDAQ FATE opened at $15.23 on Tuesday. Fate Therapeutics has a 1-year low of $7.60 and a 1-year high of $17.98. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $908.92 million, a PE ratio of -14.93 and a beta of 2.06.
In related news, Director Amir Nashat sold 82,528 shares of the stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total value of $1,379,042.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Cindy Tahl sold 25,000 shares of the 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 completion of the transaction, the general counsel now directly owns 47,426 shares of the company’s stock, valued at approximately $758,816. The disclosure for this sale can be found here. Insiders sold 469,026 shares of company stock valued at $6,928,487 in the last three months. 9.89% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Fate Therapeutics by 45.0% in the fourth quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock valued at $64,557,000 after purchasing an additional 1,562,252 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Fate Therapeutics in the fourth quarter valued at about $1,832,000. Westfield Capital Management Co. LP boosted its holdings in Fate Therapeutics by 32.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,104,305 shares of the biopharmaceutical company’s stock valued at $14,168,000 after purchasing an additional 272,235 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Fate Therapeutics by 45.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock valued at $176,000 after purchasing an additional 4,260 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Fate Therapeutics by 150.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,318,860 shares of the biopharmaceutical company’s stock valued at $16,921,000 after purchasing an additional 791,540 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.
About Fate Therapeutics
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.
See Also: Earnings Per Share (EPS)
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