Fate Therapeutics (NASDAQ:FATE) Cut to Hold at BidaskClub

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BidaskClub downgraded shares of Fate Therapeutics (NASDAQ:FATE) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other research firms have also issued reports on FATE. Zacks Investment Research upgraded Fate Therapeutics from a sell rating to a hold rating in a research note on Wednesday, July 10th. Piper Jaffray Companies boosted their price objective on Fate Therapeutics from $23.00 to $30.00 and gave the company a top pick rating in a research note on Thursday, June 27th. Roth Capital started coverage on Fate Therapeutics in a research note on Friday, June 7th. They set a neutral rating and a $20.00 price objective on the stock. Citigroup reiterated a buy rating and set a $26.00 price objective (up from $20.00) on shares of Fate Therapeutics in a research note on Friday, May 24th. Finally, Cantor Fitzgerald started coverage on Fate Therapeutics in a research note on Monday, July 22nd. They set an overweight rating and a $32.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $23.43.

Shares of FATE opened at $19.27 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.40 and a current ratio of 6.40. Fate Therapeutics has a 1 year low of $9.00 and a 1 year high of $22.82. The company has a fifty day moving average price of $21.03.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.01 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 156.3% compared to the same quarter last year. Research analysts anticipate that Fate Therapeutics will post -1.32 earnings per share for the current fiscal year.

In related news, Director Amir Nashat sold 62,005 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.53, for a total transaction of $1,396,972.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider J Scott Wolchko sold 14,335 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $19.37, for a total value of $277,668.95. Following the transaction, the insider now owns 389,216 shares of the company’s stock, valued at $7,539,113.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 409,476 shares of company stock valued at $9,145,002. 23.19% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of Fate Therapeutics by 248.5% in the 1st quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 2,015 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth about $79,000. Legal & General Group Plc boosted its holdings in shares of Fate Therapeutics by 48.6% in the 4th quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 3,719 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Fate Therapeutics in the 1st quarter worth about $169,000. Finally, Jane Street Group LLC boosted its holdings in shares of Fate Therapeutics by 34.8% in the 4th quarter. Jane Street Group LLC now owns 13,656 shares of the biopharmaceutical company’s stock worth $175,000 after purchasing an additional 3,529 shares in the last quarter. Hedge funds and other institutional investors own 94.81% 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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