Fate Therapeutics (FATE) PT Raised to $21.00 at Wedbush

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Fate Therapeutics (NASDAQ:FATE) had its price target lifted by Wedbush from $19.00 to $21.00 in a report published on Monday. Wedbush currently has an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Fate Therapeutics’ Q1 2019 earnings at ($0.19) EPS, Q2 2019 earnings at ($0.27) EPS and FY2023 earnings at $0.95 EPS.

Several other equities research analysts also recently weighed in on FATE. Jefferies Financial Group initiated coverage on Fate Therapeutics in a research report on Monday, November 5th. They set a buy rating and a $17.00 price target on the stock. BidaskClub raised Fate Therapeutics from a buy rating to a strong-buy rating in a research report on Wednesday, December 5th. Stephens downgraded Fate Therapeutics from an overweight rating to an equal rating in a research report on Thursday, January 3rd. Finally, Zacks Investment Research downgraded Fate Therapeutics from a hold rating to a sell rating in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $18.86.

Shares of FATE opened at $15.23 on Monday. The stock has a market cap of $983.90 million, a price-to-earnings ratio of -14.93 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.44 and a current ratio of 9.44. Fate Therapeutics has a fifty-two week low of $7.60 and a fifty-two week high of $17.98.

In other news, General Counsel Cindy Tahl sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $16.00, for a total transaction of $400,000.00. Following the sale, the general counsel now directly owns 47,426 shares in the company, valued at approximately $758,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amir Nashat sold 17,788 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $16.67, for a total value of $296,525.96. The disclosure for this sale can be found here. Insiders have sold a total of 469,026 shares of company stock worth $6,928,487 over the last ninety days. 9.89% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of FATE. Redmile Group LLC grew its position in shares of Fate Therapeutics by 58.9% during the 3rd quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock valued at $172,289,000 after acquiring an additional 3,920,401 shares during the period. BlackRock Inc. grew its position in shares of Fate Therapeutics by 45.0% during the 4th quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock valued at $64,557,000 after acquiring an additional 1,562,252 shares during the period. Partner Fund Management L.P. acquired a new stake in shares of Fate Therapeutics during the 3rd quarter valued at about $24,455,000. FMR LLC grew its position in shares of Fate Therapeutics by 15.3% during the 3rd quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock valued at $124,413,000 after acquiring an additional 1,011,596 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Fate Therapeutics by 150.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,318,860 shares of the biopharmaceutical company’s stock valued at $16,921,000 after acquiring an additional 791,540 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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