Fate Therapeutics (NASDAQ:FATE) Downgraded to “Neutral” at HC Wainwright

HC Wainwright cut shares of Fate Therapeutics (NASDAQ:FATEGet Rating) from a buy rating to a neutral rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $7.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $115.00.

A number of other equities analysts have also recently weighed in on the company. Bank of America cut Fate Therapeutics from a buy rating to an underperform rating in a report on Friday, January 6th. Morgan Stanley cut their price objective on Fate Therapeutics from $35.00 to $8.00 and set an equal weight rating for the company in a research note on Friday, January 6th. Oppenheimer lowered Fate Therapeutics from an outperform rating to a market perform rating in a research note on Thursday, December 22nd. Cowen lowered Fate Therapeutics from an outperform rating to a market perform rating in a research note on Friday, January 6th. Finally, SVB Leerink cut their price objective on Fate Therapeutics from $62.00 to $10.00 and set an outperform rating for the company in a research note on Friday, January 6th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $29.75.

Fate Therapeutics Stock Down 2.2 %

Shares of FATE stock opened at $5.43 on Tuesday. The stock has a market cap of $527.63 million, a PE ratio of -1.78 and a beta of 1.74. The business has a 50-day simple moving average of $13.14 and a 200-day simple moving average of $21.54. Fate Therapeutics has a 52-week low of $4.02 and a 52-week high of $43.14.

Fate Therapeutics (NASDAQ:FATEGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $0.07. The business had revenue of $14.98 million during the quarter, compared to analysts’ expectations of $15.34 million. Fate Therapeutics had a negative return on equity of 48.78% and a negative net margin of 425.99%. Sell-side analysts anticipate that Fate Therapeutics will post -3.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Mendlein acquired 36,631 shares of Fate Therapeutics stock in a transaction dated Friday, January 13th. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $198,906.33. Following the completion of the purchase, the director now owns 282,770 shares in the company, valued at $1,535,441.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John Mendlein acquired 36,631 shares of Fate Therapeutics stock in a transaction dated Friday, January 13th. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $198,906.33. Following the completion of the purchase, the director now owns 282,770 shares in the company, valued at $1,535,441.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bahram Valamehr sold 10,917 shares of the stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $5.24, for a total value of $57,205.08. Following the completion of the sale, the insider now owns 168,917 shares in the company, valued at $885,125.08. The disclosure for this sale can be found here. Insiders have sold 75,708 shares of company stock worth $396,710 over the last ninety days. Corporate insiders own 17.34% of the company’s stock.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in Fate Therapeutics by 32.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 41,297 shares of the biopharmaceutical company’s stock valued at $417,000 after buying an additional 10,186 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Fate Therapeutics by 11.3% in the third quarter. Bank of New York Mellon Corp now owns 390,269 shares of the biopharmaceutical company’s stock valued at $8,747,000 after buying an additional 39,739 shares in the last quarter. Capital Impact Advisors LLC raised its stake in Fate Therapeutics by 22.7% in the third quarter. Capital Impact Advisors LLC now owns 20,273 shares of the biopharmaceutical company’s stock valued at $408,000 after buying an additional 3,747 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in Fate Therapeutics in the third quarter valued at $207,000. Finally, Alpha Paradigm Partners LLC raised its stake in Fate Therapeutics by 28.3% in the third quarter. Alpha Paradigm Partners LLC now owns 56,644 shares of the biopharmaceutical company’s stock valued at $1,269,000 after buying an additional 12,491 shares in the last quarter.

About Fate Therapeutics

(Get Rating)

Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.

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