Fate Therapeutics Inc (NASDAQ:FATE) was up 9.5% on Monday . The stock traded as high as $14.79 and last traded at $16.19. Approximately 24,949 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 931,899 shares. The stock had previously closed at $14.78.
Several equities research analysts have commented on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $23.00 target price on shares of Fate Therapeutics in a report on Tuesday, September 25th. Jefferies Financial Group assumed coverage on Fate Therapeutics in a report on Monday, November 5th. They issued a “buy” rating and a $17.00 target price on the stock. BidaskClub downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Finally, Stephens downgraded Fate Therapeutics from an “overweight” rating to an “equal” rating in a report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Fate Therapeutics currently has an average rating of “Buy” and an average target price of $17.25.
The firm has a market cap of $954.83 million, a PE ratio of -16.75 and a beta of 2.03. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.24 million. Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) earnings per share. As a group, equities analysts predict that Fate Therapeutics Inc will post -1.21 EPS for the current fiscal year.
In other news, Director Amir Nashat sold 82,528 shares of the company’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total transaction of $1,379,042.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 191,526 shares of company stock worth $2,897,783. Corporate insiders own 9.89% of the company’s stock.
Several large investors have recently made changes to their positions in FATE. Jane Street Group LLC bought a new position in shares of Fate Therapeutics during the second quarter valued at $116,000. PNC Financial Services Group Inc. bought a new position in shares of Fate Therapeutics during the second quarter valued at $120,000. California Public Employees Retirement System bought a new position in shares of Fate Therapeutics during the second quarter valued at $193,000. Partner Investment Management L.P. bought a new position in shares of Fate Therapeutics during the third quarter valued at $202,000. Finally, Granite Investment Partners LLC bought a new position in shares of Fate Therapeutics during the third quarter valued at $280,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
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Fate Therapeutics Company Profile (NASDAQ:FATE)
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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