Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Rating of “Moderate Buy” by Analysts

Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $75.42.

FATE has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on shares of Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Robert W. Baird initiated coverage on Fate Therapeutics in a report on Thursday, June 2nd. They set a “neutral” rating and a $28.00 target price for the company. Oppenheimer lowered their target price on Fate Therapeutics from $135.00 to $90.00 in a report on Thursday. Truist Financial lowered their target price on Fate Therapeutics from $125.00 to $75.00 in a report on Wednesday, April 13th. Finally, BMO Capital Markets upgraded Fate Therapeutics from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $50.00 to $47.00 in a report on Monday, July 11th.

Fate Therapeutics Price Performance

NASDAQ FATE opened at $33.42 on Friday. The stock’s 50 day simple moving average is $26.91 and its 200 day simple moving average is $31.46. Fate Therapeutics has a one year low of $17.10 and a one year high of $97.43. The firm has a market cap of $3.23 billion, a PE ratio of -12.66 and a beta of 1.62.

Fate Therapeutics (NASDAQ:FATEGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.10. Fate Therapeutics had a negative return on equity of 38.88% and a negative net margin of 371.73%. The company had revenue of $18.40 million for the quarter, compared to the consensus estimate of $9.01 million. During the same quarter in the prior year, the business posted ($0.48) EPS. The firm’s quarterly revenue was up 65.2% on a year-over-year basis. As a group, equities analysts expect that Fate Therapeutics will post -3.37 earnings per share for the current year.

Insider Activity at Fate Therapeutics

In other Fate Therapeutics news, CEO J Scott Wolchko sold 30,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total transaction of $986,400.00. Following the sale, the chief executive officer now owns 431,546 shares of the company’s stock, valued at $14,189,232.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO J Scott Wolchko sold 30,000 shares of Fate Therapeutics stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total transaction of $986,400.00. Following the transaction, the chief executive officer now owns 431,546 shares in the company, valued at $14,189,232.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bahram Valamehr sold 17,158 shares of Fate Therapeutics stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $30.23, for a total transaction of $518,686.34. Following the transaction, the insider now owns 179,834 shares in the company, valued at approximately $5,436,381.82. The disclosure for this sale can be found here. Insiders have sold 53,082 shares of company stock valued at $1,646,106 over the last three months. 18.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. raised its holdings in shares of Fate Therapeutics by 1.6% during the fourth quarter. First Republic Investment Management Inc. now owns 18,565 shares of the biopharmaceutical company’s stock valued at $1,086,000 after purchasing an additional 291 shares during the period. 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 period. Los Angeles Capital Management LLC raised its holdings in shares of Fate Therapeutics by 3.5% during the second quarter. Los Angeles Capital Management LLC now owns 17,581 shares of the biopharmaceutical company’s stock valued at $436,000 after purchasing an additional 601 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Fate Therapeutics by 2.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 25,850 shares of the biopharmaceutical company’s stock worth $1,526,000 after acquiring an additional 700 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Fate Therapeutics by 0.9% during the first quarter. Rhumbline Advisers now owns 89,382 shares of the biopharmaceutical company’s stock worth $3,465,000 after acquiring an additional 758 shares in 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.

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