HC Wainwright Reiterates Hold Rating for Fate Therapeutics (FATE)

HC Wainwright reaffirmed their hold rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research note issued to investors on Tuesday morning. HC Wainwright currently has a $12.00 price objective on the biopharmaceutical company’s stock.

“Fate Announces Updated Data From Phase 1 of PROTECT; Reiterate Neutral Updated ProTmune data shows continued safety and efficacy. Yesterday, Fate Therapeutics announced additional Phase 1 clinical data from PROTECT. As a reminder, Fate is investigating ProTmune, a next-generation hematopoietic cell graft for the prevention of acute graft-versus-host disease (GvHD) in patients undergoing allogeneic hematopoietic cell transplantation (HCT). Data reported at ASH indicated that all subjects (n=7) remained relapse-free, and there were no events of graft failure or serious adverse events (SAEs) that were deemed related to ProTmune. In the study, three out of seven subjects experienced acute GvHD in the first 100 days. However, all subjects responded to standard-of care steroid treatment, and all three cases of GvHD resolved within 5-8 days.”,” the firm’s analyst wrote.

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A number of other research firms also recently issued reports on FATE. UBS downgraded Fate Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday, March 6th. Wells Fargo 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 raised their price target on Fate Therapeutics from $7.00 to $20.00 and gave the stock an outperform rating in a report on Tuesday, March 6th. 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. Finally, Piper Jaffray Companies reaffirmed a top pick rating and issued a $20.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $13.71.

Shares of Fate Therapeutics (FATE) opened at $10.92 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.29 and a quick ratio of 9.29. Fate Therapeutics has a 52-week low of $2.52 and a 52-week high of $14.45. The stock has a market capitalization of $617.43, a price-to-earnings ratio of -10.71 and a beta of 1.65.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative return on equity of 71.00% and a negative net margin of 1,046.08%. The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. equities analysts predict that Fate Therapeutics will post -0.91 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Fate Therapeutics by 968.7% in the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after acquiring an additional 333,753 shares during the period. Monashee Investment Management LLC bought a new position in shares of Fate Therapeutics in the fourth quarter worth $1,833,000. TIAA CREF Investment Management LLC bought a new stake in Fate Therapeutics during the second quarter valued at $373,000. Vanguard Group Inc. boosted its stake in Fate Therapeutics by 9.4% during the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after buying an additional 108,602 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Fate Therapeutics by 167.6% during the third quarter. Neuberger Berman Group LLC now owns 133,000 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 83,300 shares during the period. 66.43% 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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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