Fate Therapeutics Inc (FATE) Given Consensus Rating of “Buy” by Brokerages

Fate Therapeutics Inc (NASDAQ:FATE) has received a consensus rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.63.

Several equities analysts have recently weighed in on FATE shares. BidaskClub raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 5th. Stephens lowered Fate Therapeutics from an “overweight” rating to an “equal” rating in a research note on Thursday, January 3rd. Zacks Investment Research lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Wedbush lifted their price objective on Fate Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Finally, Wells Fargo & Co lifted their price objective on Fate Therapeutics from $18.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th.

In related news, Director Amir Nashat sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $13.78, for a total transaction of $964,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel D. Shoemaker sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $16.94, for a total value of $211,750.00. Following the transaction, the insider now directly owns 148,091 shares in the company, valued at $2,508,661.54. The disclosure for this sale can be found here. Insiders have sold a total of 360,000 shares of company stock worth $5,400,154 over the last three months. 9.89% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FATE. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fate Therapeutics by 61.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,464 shares during the last quarter. Creative Planning purchased a new stake in Fate Therapeutics during the 4th quarter worth approximately $141,000. Legal & General Group Plc increased its holdings in Fate Therapeutics by 48.6% during the 4th quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 3,719 shares during the last quarter. Jane Street Group LLC increased its holdings in Fate Therapeutics by 34.8% during the 4th quarter. Jane Street Group LLC now owns 13,656 shares of the biopharmaceutical company’s stock worth $175,000 after purchasing an additional 3,529 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Fate Therapeutics by 45.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 4,260 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.

NASDAQ FATE opened at $17.57 on Friday. The stock has a market capitalization of $1.11 billion, a PE ratio of -14.76 and a beta of 2.03. Fate Therapeutics has a 1-year low of $8.35 and a 1-year high of $19.11. The company has a current ratio of 7.53, a quick ratio of 7.53 and a debt-to-equity ratio of 0.08.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Fate Therapeutics had a negative net margin of 1,405.06% and a negative return on equity of 59.04%. Sell-side analysts expect that Fate Therapeutics will post -1.05 EPS for the current fiscal year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy comprising adaptive memory NK cells; FT500, an induced pluripotent stem cell (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516, an iPSC-derived non-cleavable CD16 engineered NK cell product candidate to treat hematologic malignancies and solid tumors; and FT596, a chimeric antigen receptor (CAR) T-cell therapy for patients with hematologic malignancies.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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