Fate Therapeutics, Inc. (NASDAQ:FATE) Receives Average Recommendation of “Buy” from Analysts

Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) has been assigned an average rating of “Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $87.22.

Several equities research analysts have recently commented on the stock. HC Wainwright reduced their price target on shares of Fate Therapeutics from $122.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, March 4th. Wedbush upped their price target on shares of Fate Therapeutics from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, March 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fate Therapeutics in a research report on Friday, April 1st. Truist Financial reduced their price target on shares of Fate Therapeutics from $125.00 to $75.00 in a research report on Wednesday, April 13th. Finally, StockNews.com upgraded Fate Therapeutics to a “sell” rating in a research note on Thursday, March 24th.

In other news, Director John Mendlein sold 31,562 shares of the stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $35.02, for a total transaction of $1,105,301.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Scott Wolchko sold 30,000 shares of the stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the transaction, the chief executive officer now owns 431,546 shares of the company’s stock, valued at $15,104,110. The disclosure for this sale can be found here. Insiders sold a total of 90,624 shares of company stock valued at $3,270,224 over the last 90 days. 18.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in FATE. BlackRock Inc. raised its holdings in Fate Therapeutics by 1.5% during the 3rd quarter. BlackRock Inc. now owns 6,695,546 shares of the biopharmaceutical company’s stock valued at $396,844,000 after buying an additional 99,586 shares during the period. Barclays PLC raised its holdings in Fate Therapeutics by 28.7% during the 3rd quarter. Barclays PLC now owns 54,748 shares of the biopharmaceutical company’s stock valued at $3,244,000 after buying an additional 12,204 shares during the period. CIBC Asset Management Inc raised its holdings in Fate Therapeutics by 16.6% during the 3rd quarter. CIBC Asset Management Inc now owns 3,769 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 537 shares during the period. Teacher Retirement System of Texas raised its holdings in Fate Therapeutics by 33.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 11,913 shares of the biopharmaceutical company’s stock valued at $706,000 after buying an additional 2,995 shares during the period. Finally, Citigroup Inc. raised its holdings in Fate Therapeutics by 174.5% during the 3rd quarter. Citigroup Inc. now owns 169,522 shares of the biopharmaceutical company’s stock valued at $10,048,000 after buying an additional 107,772 shares during the period.

Shares of NASDAQ:FATE opened at $23.10 on Monday. Fate Therapeutics has a fifty-two week low of $20.49 and a fifty-two week high of $97.43. The business has a 50-day simple moving average of $33.20 and a two-hundred day simple moving average of $41.82. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -9.51 and a beta of 1.69.

Fate Therapeutics (NASDAQ:FATEGet Rating) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. Fate Therapeutics had a negative return on equity of 34.89% and a negative net margin of 368.76%. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $9.01 million. During the same quarter in the previous year, the firm earned ($0.48) EPS. Fate Therapeutics’s revenue was up 65.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Fate Therapeutics will post -3.37 EPS for the current year.

Fate Therapeutics Company Profile (Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

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