Fate Therapeutics (NASDAQ:FATE) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a sell rating in a report released on Saturday morning.

Several other research firms have also recently weighed in on FATE. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, October 31st. Wells Fargo & Company dropped their price target on Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $5.00 to $7.00 in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fate Therapeutics has a consensus rating of “Hold” and a consensus price target of $3.92.

Fate Therapeutics Price Performance

NASDAQ:FATE traded up $0.03 on Friday, reaching $1.07. 1,685,527 shares of the company’s stock were exchanged, compared to its average volume of 2,362,944. The stock has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.19. Fate Therapeutics has a 52 week low of $0.66 and a 52 week high of $3.50. The firm has a market cap of $123.40 million, a price-to-earnings ratio of -0.74 and a beta of 2.42.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.16 million. As a group, sell-side analysts predict that Fate Therapeutics will post -1.63 EPS for the current year.

Institutional Trading of Fate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Savant Capital LLC bought a new position in Fate Therapeutics in the 2nd quarter worth $27,000. Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics during the 2nd quarter valued at approximately $28,000. CWM LLC raised its position in shares of Fate Therapeutics by 899.6% in the 1st quarter. CWM LLC now owns 41,435 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 37,290 shares in the last quarter. Caption Management LLC purchased a new position in shares of Fate Therapeutics in the 1st quarter valued at approximately $45,000. Finally, Jane Street Group LLC grew its stake in Fate Therapeutics by 106.9% in the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 32,911 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.