Zacks Investment Research downgraded shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a sell rating in a research report report published on Wednesday morning.
According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “
Several other research firms have also commented on FATE. HC Wainwright lowered shares of Fate Therapeutics from a buy rating to a neutral rating and set a $12.00 price target for the company. in a report on Tuesday, March 6th. UBS Group lowered shares of Fate Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, March 6th. Wells Fargo & Co reaffirmed an outperform rating and issued a $19.00 price target (up from $10.00) on shares of Fate Therapeutics in a report on Tuesday, March 6th. BMO Capital Markets lifted their price target on shares of Fate Therapeutics from $7.00 to $20.00 and gave the company an outperform rating in a report on Tuesday, March 6th. Finally, Wedbush reaffirmed an outperform rating and issued a $10.00 price target (down from $19.00) on shares of Fate Therapeutics in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Fate Therapeutics presently has an average rating of Buy and a consensus price target of $13.00.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million. The firm’s revenue was up .0% on a year-over-year basis. research analysts expect that Fate Therapeutics will post -0.91 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of FATE. New York State Common Retirement Fund acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $131,000. Raymond James & Associates acquired a new position in Fate Therapeutics during the 4th quarter valued at about $141,000. Hochman Cole Investment Advisors Inc. acquired a new position in Fate Therapeutics during the 3rd quarter valued at about $158,000. The Manufacturers Life Insurance Company boosted its stake in Fate Therapeutics by 61.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 12,686 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new position in Fate Therapeutics during the 2nd quarter valued at about $214,000. 68.75% of the stock is owned by hedge funds and other institutional investors.
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About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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