Equities researchers at Oppenheimer began coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Friday, Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $27.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price objective points to a potential upside of 32.03% from the stock’s current price.
Several other brokerages also recently commented on FATE. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Jaffray Companies downgraded shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research note on Thursday, June 27th. Guggenheim restated a “hold” rating on shares of Burlington Stores in a research note on Thursday, May 30th. Roth Capital reduced their target price on shares of Diamondback Energy from $166.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Mizuho assumed coverage on shares of CytomX Therapeutics in a research note on Wednesday, June 12th. They issued a “buy” rating and a $16.00 target price on the stock. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.42.
FATE opened at $20.45 on Friday. Fate Therapeutics has a fifty-two week low of $8.64 and a fifty-two week high of $22.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.40 and a quick ratio of 6.40. The business’s fifty day simple moving average is $19.42. The firm has a market capitalization of $1.34 billion, a P/E ratio of -17.18 and a beta of 1.65.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The business had revenue of $2.63 million for the quarter, compared to analyst estimates of $2.01 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The firm’s quarterly revenue was up 156.3% on a year-over-year basis. On average, analysts forecast that Fate Therapeutics will post -1.29 earnings per share for the current fiscal year.
In related news, CEO J Scott Wolchko sold 8,541 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $16.17, for a total transaction of $138,107.97. Following the transaction, the chief executive officer now owns 375,973 shares in the company, valued at approximately $6,079,483.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel D. Shoemaker sold 12,500 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $20.21, for a total transaction of $252,625.00. Following the transaction, the insider now owns 148,091 shares in the company, valued at approximately $2,992,919.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,376 shares of company stock worth $668,402. 23.19% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FATE. BlackRock Inc. lifted its position in Fate Therapeutics by 45.0% during the 4th quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after buying an additional 1,562,252 shares in the last quarter. Northern Trust Corp lifted its position in Fate Therapeutics by 17.8% during the 4th quarter. Northern Trust Corp now owns 735,512 shares of the biopharmaceutical company’s stock worth $9,437,000 after buying an additional 110,936 shares in the last quarter. Geode Capital Management LLC lifted its position in Fate Therapeutics by 36.3% during the 4th quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after buying an additional 186,927 shares in the last quarter. American International Group Inc. lifted its position in Fate Therapeutics by 19.9% during the 4th quarter. American International Group Inc. now owns 39,933 shares of the biopharmaceutical company’s stock worth $512,000 after buying an additional 6,616 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Fate Therapeutics by 23.4% during the 4th quarter. Two Sigma Advisers LP now owns 356,700 shares of the biopharmaceutical company’s stock worth $4,576,000 after buying an additional 67,700 shares in the last quarter. Institutional investors and hedge funds own 93.28% of the company’s stock.
Fate Therapeutics Company Profile
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.
Recommended Story: How is diluted EPS different from basic EPS?
Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.