Fate Therapeutics, Inc. (NASDAQ:FATE – Get Free Report) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.50.
A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Stifel Nicolaus dropped their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Finally, Wells Fargo & Company dropped their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th.
View Our Latest Stock Analysis on FATE
Fate Therapeutics Trading Up 2.6 %
Fate Therapeutics (NASDAQ:FATE – Get Free Report) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. The firm had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Analysts forecast that Fate Therapeutics will post -1.63 EPS for the current year.
Insider Transactions at Fate Therapeutics
In related news, Director Redmile Group, Llc bought 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics during the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $40,000. Brevan Howard Capital Management LP acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $41,000. FPC Investment Advisory Inc. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at $44,000. Finally, Intech Investment Management LLC acquired a new position in shares of Fate Therapeutics during the 3rd quarter valued at $108,000. 97.54% of the stock is owned by hedge funds and other institutional investors.
About Fate Therapeutics
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.
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