HC Wainwright Reiterates “Neutral” Rating for Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics (NASDAQ:FATEGet Free Report)‘s stock had its “neutral” rating reissued by HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential downside of 5.79% from the company’s current price.

FATE has been the topic of several other reports. BMO Capital Markets lifted their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Tuesday, February 27th. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Morgan Stanley lifted their price target on Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 27th. Mizuho lowered their price objective on Fate Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 20th. Finally, Wedbush lifted their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.80.

Read Our Latest Analysis on FATE

Fate Therapeutics Stock Performance

FATE stock opened at $7.43 on Tuesday. The stock has a fifty day moving average of $6.39 and a 200-day moving average of $3.86. The company has a market capitalization of $737.34 million, a price-to-earnings ratio of -4.53 and a beta of 1.67. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. The business had revenue of $1.68 million for the quarter, compared to analyst estimates of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period last year, the company earned ($0.58) EPS. Equities analysts predict that Fate Therapeutics will post -1.94 EPS for the current year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 44,630 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was purchased at an average price of $3.72 per share, with a total value of $166,023.60. Following the completion of the purchase, the director now directly owns 13,180,388 shares in the company, valued at approximately $49,031,043.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Fate Therapeutics news, Director Redmile Group, Llc purchased 44,630 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The stock was purchased at an average cost of $3.72 per share, with a total value of $166,023.60. Following the purchase, the director now owns 13,180,388 shares of the company’s stock, valued at $49,031,043.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bahram Valamehr sold 11,271 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $4.38, for a total value of $49,366.98. Following the transaction, the insider now owns 158,069 shares in the company, valued at $692,342.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,413 shares of company stock valued at $199,732. Company insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Solutions LLC acquired a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $25,000. National Bank of Canada FI purchased a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $25,000. Fox Run Management L.L.C. purchased a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $25,000. Natixis purchased a new position in shares of Fate Therapeutics in the 4th quarter valued at about $29,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $30,000.

Fate Therapeutics Company Profile

(Get Free Report)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.

See Also

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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