Analysts at CIBC started coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a report issued on Friday, FirstToMarketsRatingsTable reports. The firm set an “outperform” rating and a $27.00 price target on the biopharmaceutical company’s stock. CIBC’s price target indicates a potential upside of 32.03% from the company’s current price.
FATE has been the subject of a number of other reports. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Piper Jaffray Companies cut shares of Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 27th. Mizuho started coverage on shares of CytomX Therapeutics in a research report on Wednesday, June 12th. They set a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Leerink Swann started coverage on shares of Affimed in a research report on Thursday, March 28th. They set an “outperform” rating and a $4.17 price target on the stock. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $22.77.
Fate Therapeutics stock opened at $20.45 on Friday. Fate Therapeutics has a 1 year low of $8.64 and a 1 year high of $22.35. The firm has a 50 day moving average of $19.42. The stock has a market capitalization of $1.34 billion, a P/E ratio of -17.18 and a beta of 1.65. The company has a current ratio of 6.40, a quick ratio of 6.40 and a debt-to-equity ratio of 0.26.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Fate Therapeutics had a negative net margin of 1,138.12% and a negative return on equity of 54.30%. The company had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. Fate Therapeutics’s revenue for the quarter was up 156.3% compared to the same quarter last year. As a group, analysts anticipate that Fate Therapeutics will post -1.29 EPS for the current fiscal year.
In other Fate Therapeutics news, CEO J Scott Wolchko sold 8,541 shares of Fate Therapeutics stock in a transaction that occurred on 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 directly owns 375,973 shares of the company’s stock, valued at $6,079,483.41. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel D. Shoemaker sold 12,500 shares of the business’s stock in a transaction on 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 directly owns 148,091 shares in the company, valued at $2,992,919.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,376 shares of company stock worth $668,402. 23.19% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in Fate Therapeutics by 108.6% during the first quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock valued at $8,557,000 after purchasing an additional 253,540 shares during the last quarter. Federated Investors Inc. PA grew its holdings in Fate Therapeutics by 31.2% during the first quarter. Federated Investors Inc. PA now owns 458,869 shares of the biopharmaceutical company’s stock valued at $8,062,000 after purchasing an additional 109,118 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Fate Therapeutics by 76.1% during the first quarter. New York State Common Retirement Fund now owns 92,290 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 39,890 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Fate Therapeutics by 49.7% in the first quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock valued at $34,686,000 after acquiring an additional 655,314 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Fate Therapeutics by 1.1% in the first quarter. Rhumbline Advisers now owns 80,220 shares of the biopharmaceutical company’s stock valued at $1,409,000 after acquiring an additional 841 shares during the period. 93.28% of the stock is currently owned by institutional investors and hedge funds.
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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