Fate Therapeutics (FATE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Fate Therapeutics (NASDAQ:FATE) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Other equities analysts have also issued reports about the stock. HC Wainwright restated a buy rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Friday, November 10th. ValuEngine lowered shares of Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, September 22nd. Wedbush restated an outperform rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, December 18th. Piper Jaffray Companies assumed coverage on shares of Fate Therapeutics in a research report on Monday, December 18th. They issued an overweight rating and a $10.00 price objective for the company. Finally, BMO Capital Markets restated a buy rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $7.64.

Fate Therapeutics (NASDAQ:FATE) traded up $0.19 on Tuesday, hitting $7.37. 413,633 shares of the stock traded hands, compared to its average volume of 525,579. The stock has a market capitalization of $366.05, a P/E ratio of -7.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21. Fate Therapeutics has a 52-week low of $2.52 and a 52-week high of $7.40.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The firm had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. The business’s quarterly revenue was up .0% compared to the same quarter last year. research analysts expect that Fate Therapeutics will post -0.98 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Hochman Cole Investment Advisors Inc. bought a new stake in Fate Therapeutics during the third quarter valued at approximately $158,000. New York State Common Retirement Fund bought a new stake in Fate Therapeutics during the second quarter valued at approximately $131,000. Rhumbline Advisers bought a new stake in Fate Therapeutics during the second quarter valued at approximately $133,000. Russell Investments Group Ltd. bought a new stake in Fate Therapeutics during the third quarter valued at approximately $234,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Fate Therapeutics during the second quarter valued at approximately $214,000. Institutional investors own 49.85% of the company’s stock.

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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.

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