Morgan Stanley Lowers Fate Therapeutics (NASDAQ:FATE) Price Target to $35.00

Fate Therapeutics (NASDAQ:FATEGet Rating) had its target price decreased by research analysts at Morgan Stanley from $45.00 to $35.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective suggests a potential upside of 24.56% from the company’s current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 18th. Oppenheimer lowered their target price on Fate Therapeutics from $135.00 to $90.00 in a research report on Thursday, August 4th. Piper Sandler lowered their target price on Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Robert W. Baird started coverage on Fate Therapeutics in a research report on Thursday, June 2nd. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, BMO Capital Markets raised Fate Therapeutics from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $50.00 to $47.00 in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.46.

Fate Therapeutics Price Performance

FATE opened at $28.10 on Friday. The business’s 50-day moving average price is $30.30 and its two-hundred day moving average price is $30.03. Fate Therapeutics has a 1 year low of $17.10 and a 1 year high of $72.29. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.64 and a beta of 1.68.

Fate Therapeutics (NASDAQ:FATEGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.07. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. The firm had revenue of $18.55 million for the quarter, compared to the consensus estimate of $13.42 million. Sell-side analysts anticipate that Fate Therapeutics will post -3.4 earnings per share for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other news, insider Mark Plavsic sold 3,719 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total transaction of $91,524.59. Following the completion of the sale, the insider now owns 127,123 shares in the company, valued at $3,128,497.03. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Mark Plavsic sold 3,719 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total value of $91,524.59. Following the completion of the sale, the insider now directly owns 127,123 shares in the company, valued at $3,128,497.03. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Scott Wolchko sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total value of $986,400.00. Following the completion of the sale, the chief executive officer now owns 431,546 shares of the company’s stock, valued at $14,189,232.48. The disclosure for this sale can be found here. Insiders sold a total of 56,012 shares of company stock worth $1,749,685 over the last quarter. Company insiders own 17.34% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in shares of Fate Therapeutics by 4.4% in the second quarter. ARK Investment Management LLC now owns 11,473,655 shares of the biopharmaceutical company’s stock valued at $265,041,000 after buying an additional 485,473 shares during the period. BlackRock Inc. raised its position in Fate Therapeutics by 0.6% during the first quarter. BlackRock Inc. now owns 7,105,671 shares of the biopharmaceutical company’s stock valued at $275,487,000 after purchasing an additional 45,119 shares in the last quarter. State Street Corp raised its position in Fate Therapeutics by 51.8% during the second quarter. State Street Corp now owns 5,270,135 shares of the biopharmaceutical company’s stock valued at $130,594,000 after purchasing an additional 1,797,703 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Fate Therapeutics by 1.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,983,503 shares of the biopharmaceutical company’s stock valued at $123,491,000 after purchasing an additional 72,136 shares in the last quarter. Finally, Capital World Investors raised its position in Fate Therapeutics by 39.9% during the first quarter. Capital World Investors now owns 4,559,673 shares of the biopharmaceutical company’s stock valued at $176,779,000 after purchasing an additional 1,300,640 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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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