Fate Therapeutics (NASDAQ:FATE) Receives New Coverage from Analysts at CIBC

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Stock analysts at CIBC assumed coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research note 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 would suggest a potential upside of 25.35% from the company’s previous close.

FATE has been the subject of a number of other reports. Leerink Swann started coverage on Affimed in a report on Thursday, March 28th. They issued an “outperform” rating and a $4.17 price target for the company. Piper Jaffray Companies downgraded Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. Svb Leerink started coverage on Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 price target for the company. Roth Capital decreased their price target on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, BidaskClub downgraded Waterstone Financial from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Three equities 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’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.77.

Shares of NASDAQ:FATE opened at $21.54 on Friday. Fate Therapeutics has a 12-month low of $8.64 and a 12-month high of $22.61. The firm has a market capitalization of $1.33 billion, a P/E ratio of -18.10 and a beta of 1.65. The firm has a 50 day moving average of $19.49. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.40 and a quick ratio of 6.40.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $2.01 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. The company’s revenue was up 156.3% compared to the same quarter last year. On average, equities research analysts anticipate that Fate Therapeutics will post -1.29 EPS for the current year.

In related news, insider J Scott Wolchko sold 14,335 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $19.37, for a total transaction of $277,668.95. Following the completion of the sale, the insider now directly owns 389,216 shares in the company, valued at $7,539,113.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel D. Shoemaker sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $20.21, for a total value of $252,625.00. Following the sale, the insider now owns 148,091 shares of the company’s stock, valued at $2,992,919.11. The disclosure for this sale can be found here. Insiders sold 35,376 shares of company stock valued at $668,402 over the last 90 days. Company insiders own 23.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FATE. Jennison Associates LLC increased its position in Fate Therapeutics by 108.6% during the first quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock worth $8,557,000 after buying an additional 253,540 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Fate Therapeutics by 31.2% in 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 period. New York State Common Retirement Fund grew its position in shares of Fate Therapeutics by 76.1% in 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 period. Victory Capital Management Inc. grew 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 purchasing an additional 655,314 shares during the period. Finally, Rhumbline Advisers grew 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 purchasing an additional 841 shares during the period. Hedge funds and other institutional investors own 93.28% of the company’s stock.

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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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