Fate Therapeutics (FATE) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a buy rating in a research report report published on Monday morning.

FATE has been the topic of several other research reports. Zacks Investment Research raised shares of Fate Therapeutics from a hold rating to a buy rating and set a $7.50 target price on the stock in a research note on Tuesday, January 9th. Raymond James Financial reaffirmed a buy rating on shares of Fate Therapeutics in a research note on Tuesday, December 12th. BMO Capital Markets raised their price target on shares of Fate Therapeutics from $7.00 to $20.00 and gave the stock an outperform rating in a research note on Tuesday, March 6th. Wells Fargo reaffirmed an outperform rating and issued a $19.00 price target (up previously from $10.00) on shares of Fate Therapeutics in a research note on Tuesday, March 6th. Finally, HC Wainwright downgraded shares of Fate Therapeutics from a buy rating to a neutral rating and set a $12.00 price target on the stock. in a research note on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Fate Therapeutics has a consensus rating of Buy and a consensus price target of $15.00.

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Shares of FATE traded down $0.54 during midday trading on Monday, hitting $9.43. The stock had a trading volume of 249,574 shares, compared to its average volume of 739,287. Fate Therapeutics has a 1 year low of $2.52 and a 1 year high of $14.45. The company has a market cap of $554.63, a P/E ratio of -9.37 and a beta of 1.74. The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 0.19.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share 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 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. analysts predict that Fate Therapeutics will post -0.94 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp boosted its holdings in shares of Fate Therapeutics by 968.7% in the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after buying an additional 333,753 shares in the last quarter. State Street Corp acquired a new stake in Fate Therapeutics in the 2nd quarter worth approximately $1,437,000. California State Teachers Retirement System acquired a new stake in Fate Therapeutics in the 2nd quarter worth approximately $219,000. Russell Investments Group Ltd. acquired a new stake in Fate Therapeutics in the 3rd quarter worth approximately $234,000. Finally, Neuberger Berman Group LLC boosted its stake in Fate Therapeutics by 167.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 133,000 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 83,300 shares in the last quarter. 66.41% of the stock is currently owned by institutional investors and hedge funds.

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Fate Therapeutics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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