Wall Street Zen cut shares of Fate Therapeutics (NASDAQ:FATE – Free Report) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.
A number of other brokerages have also commented on FATE. Weiss Ratings reissued a “sell (d-)” rating on shares of Fate Therapeutics in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, October 27th. Piper Sandler restated an “overweight” rating and issued a $8.00 target price (up from $6.00) on shares of Fate Therapeutics in a report on Friday, August 14th. Finally, Wells Fargo & Company decreased their target price on Fate Therapeutics from $3.50 to $3.00 and set an “equal weight” rating for the company in a research report on Friday. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.80.
Read Our Latest Analysis on FATE
Fate Therapeutics Price Performance
Fate Therapeutics stock opened at $1.83 on Friday. The company has a market capitalization of $219.87 million, a price-to-earnings ratio of -1.78 and a beta of 2.65. Fate Therapeutics has a one year low of $0.95 and a one year high of $3.23. The company’s fifty day moving average price is $2.24 and its two-hundred day moving average price is $1.97.
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last posted its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. Fate Therapeutics had a negative return on equity of 69.09% and a negative net margin of 1,941.09%. The company had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.14 million. As a group, sell-side analysts anticipate that Fate Therapeutics will post -1.03 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Johnson & Johnson acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $9,123,473. BlackRock Inc. bought a new stake in Fate Therapeutics during the 2nd quarter valued at approximately $19,707,000. Renaissance Technologies LLC boosted its stake in Fate Therapeutics by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock valued at $3,570,000 after purchasing an additional 613,802 shares during the period. Irenic Capital Management LP acquired a new stake in Fate Therapeutics in the 1st quarter valued at approximately $1,054,000. Finally, Assenagon Asset Management S.A. grew its holdings in Fate Therapeutics by 799.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,311,765 shares of the biopharmaceutical company’s stock valued at $3,109,000 after buying an additional 1,165,927 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.
Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate’s pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.
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