Svb Leerink initiated coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research report released on Thursday, March 28th, BenzingaRatingsTable reports. The firm issued an outperform rating and a $20.00 target price on the biopharmaceutical company’s stock. Svb Leerink also issued estimates for Fate Therapeutics’ Q1 2019 earnings at ($0.27) EPS, Q2 2019 earnings at ($0.28) EPS, Q3 2019 earnings at ($0.31) EPS and Q4 2019 earnings at ($0.31) EPS.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Fate Therapeutics from a strong-buy rating to a buy rating in a report on Saturday, January 19th. Stephens lowered shares of Fate Therapeutics from an overweight rating to an equal rating in a research report on Thursday, January 3rd. Zacks Investment Research raised shares of Fate Therapeutics from a sell rating to a hold rating in a research report on Wednesday, February 13th. Wedbush upped their price objective on shares of Fate Therapeutics from $19.00 to $21.00 and gave the company an outperform rating in a research report on Monday, February 11th. Finally, Leerink Swann started coverage on shares of Fate Therapeutics in a research report on Thursday, March 28th. They set an outperform rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $19.63.
NASDAQ:FATE traded up $0.41 during trading hours on Thursday, reaching $16.02. The company’s stock had a trading volume of 485,807 shares, compared to its average volume of 584,855. The stock has a market capitalization of $1.04 billion, a PE ratio of -13.46 and a beta of 2.05. Fate Therapeutics has a one year low of $8.35 and a one 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.
In related news, Director Amir Nashat sold 90,000 shares of the stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $14.14, for a total value of $1,272,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Scott Wolchko sold 8,541 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $16.17, for a total transaction of $138,107.97. Following the completion of the transaction, the chief executive officer now directly owns 375,973 shares of the company’s stock, valued at approximately $6,079,483.41. The disclosure for this sale can be found here. Insiders sold 304,058 shares of company stock valued at $4,495,479 in the last three months. Company insiders own 23.19% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. grew its stake in Fate Therapeutics by 248.5% during the first quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 2,015 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Fate Therapeutics by 61.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 1,464 shares during the last quarter. Creative Planning bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $141,000. Legal & General Group Plc grew its stake in shares of Fate Therapeutics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 3,719 shares during the last quarter. Finally, Partner Investment Management L.P. bought a new stake in shares of Fate Therapeutics during the third quarter valued at approximately $202,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
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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