Fate Therapeutics (NASDAQ:FATE) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird initiated coverage on shares of Fate Therapeutics (NASDAQ:FATEGet Rating) in a research note issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on FATE. Piper Sandler decreased their price objective on shares of Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Truist Financial decreased their price objective on shares of Fate Therapeutics from $125.00 to $75.00 in a research report on Wednesday, April 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Fate Therapeutics in a research report on Friday, April 1st. Wedbush boosted their price objective 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. Finally, HC Wainwright decreased their price objective on shares of Fate Therapeutics from $122.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $85.60.

NASDAQ:FATE traded up $0.73 during trading hours on Thursday, reaching $23.36. The company’s stock had a trading volume of 889,816 shares, compared to its average volume of 1,407,641. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -9.61 and a beta of 1.71. The firm has a 50-day simple moving average of $31.03 and a 200-day simple moving average of $40.05. Fate Therapeutics has a 1 year low of $20.49 and a 1 year high of $97.43.

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

In related news, Director John Mendlein sold 31,562 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $35.02, for a total transaction of $1,105,301.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J Scott Wolchko sold 30,000 shares of the business’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief executive officer now directly owns 431,546 shares in the company, valued at approximately $15,104,110. The disclosure for this sale can be found here. Insiders have sold a total of 90,624 shares of company stock worth $3,270,224 in the last ninety days. Insiders own 18.58% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY lifted its stake in shares of Fate Therapeutics by 1.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 21,844 shares of the biopharmaceutical company’s stock worth $1,295,000 after buying an additional 238 shares in the last quarter. Eaton Vance Management lifted its stake in shares of Fate Therapeutics by 99.6% in the third quarter. Eaton Vance Management now owns 545 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 272 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of Fate Therapeutics by 1.6% in the fourth quarter. First Republic Investment Management Inc. now owns 18,565 shares of the biopharmaceutical company’s stock worth $1,086,000 after buying an additional 291 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Fate Therapeutics by 1,444.4% in the fourth quarter. Lindbrook Capital LLC now owns 556 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 520 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Fate Therapeutics by 1.7% during the fourth quarter. ProShare Advisors LLC now owns 33,208 shares of the biopharmaceutical company’s stock valued at $1,943,000 after purchasing an additional 562 shares during the last quarter.

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.

Recommended Stories

The Fly logo

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

Want More Great Investing Ideas?

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.