Fate Therapeutics (NASDAQ:FATE – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 253.54% from the stock’s previous close.
FATE has been the subject of a number of other research reports. Jefferies Financial Group set a $4.00 price target on shares of Fate Therapeutics in a research note on Tuesday, May 19th. Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.13.
Check Out Our Latest Research Report on Fate Therapeutics
Fate Therapeutics Stock Performance
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. Research analysts forecast that Fate Therapeutics will post -1.04 earnings per share for the current year.
Insider Activity
In other news, insider Cindy Tahl sold 25,590 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total value of $48,109.20. Following the completion of the sale, the insider owned 628,155 shares of the company’s stock, valued at approximately $1,180,931.40. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.74% of the company’s stock.
Institutional Investors Weigh In On Fate Therapeutics
Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in Fate Therapeutics by 87.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company’s stock valued at $2,320,000 after buying an additional 1,098,366 shares during the period. Irenic Capital Management LP purchased a new stake in Fate Therapeutics during the 1st quarter valued at $1,054,000. Two Sigma Investments LP boosted its position in Fate Therapeutics by 294.4% during the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 672,352 shares during the period. AQR Capital Management LLC boosted its position in Fate Therapeutics by 296.4% during the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after buying an additional 437,423 shares during the period. Finally, Jane Street Group LLC boosted its position in Fate Therapeutics by 631.4% during the 2nd quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company’s stock valued at $522,000 after buying an additional 402,129 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.
About Fate Therapeutics
Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.
Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.
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