Fate Therapeutics (NASDAQ:FATE) Receives New Coverage from Analysts at Mizuho

Mizuho began coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research note issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. Svb Leerink assumed coverage on shares of Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. BidaskClub upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Citigroup reiterated a “buy” rating and issued a $26.00 target price (up previously from $20.00) on shares of Fate Therapeutics in a report on Friday, May 24th. Finally, Leerink Swann assumed coverage on shares of Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $20.80.

Shares of NASDAQ FATE traded up $0.52 during midday trading on Wednesday, reaching $16.54. 612,710 shares of the stock were exchanged, compared to its average volume of 695,676. The company has a market capitalization of $1.03 billion, a P/E ratio of -13.90 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.40 and a quick ratio of 6.40. Fate Therapeutics has a twelve month low of $8.64 and a twelve month high of $20.65.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The firm had revenue of $2.63 million for the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The firm’s quarterly revenue was up 156.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.27) EPS. As a group, research analysts expect that Fate Therapeutics will post -1.25 EPS for the current year.

In related news, insider Daniel D. Shoemaker sold 12,500 shares of Fate Therapeutics stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $16.94, for a total transaction of $211,750.00. Following the sale, the insider now directly owns 148,091 shares in the company, valued at approximately $2,508,661.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Scott Wolchko sold 8,541 shares of Fate Therapeutics stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $16.17, for a total transaction of $138,107.97. Following the sale, the chief executive officer now owns 375,973 shares in the company, valued at $6,079,483.41. The disclosure for this sale can be found here. Insiders have sold a total of 55,376 shares of company stock worth $979,727 over the last quarter. 23.19% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aquilo Capital Management LLC increased its stake in Fate Therapeutics by 69.7% in the third quarter. Aquilo Capital Management LLC now owns 984,596 shares of the biopharmaceutical company’s stock valued at $16,039,000 after purchasing an additional 404,367 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Fate Therapeutics by 19.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,601 shares of the biopharmaceutical company’s stock valued at $277,000 after purchasing an additional 3,462 shares during the period. Creative Planning acquired a new position in Fate Therapeutics in the fourth quarter valued at $141,000. PNC Financial Services Group Inc. increased its stake 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 period. Finally, Victory Capital Management Inc. increased its stake 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 period. Institutional investors own 93.28% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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