Fate Therapeutics (FATE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Fate Therapeutics from a strong-buy rating to a buy rating in a research report on Saturday, January 19th. Wedbush upped their target price on Fate Therapeutics from $19.00 to $21.00 and gave the company an outperform rating in a research report on Monday, February 11th. Svb Leerink assumed coverage on Fate Therapeutics in a research report on Thursday, March 28th. They issued an outperform rating and a $20.00 target price on the stock. Leerink Swann assumed coverage on Fate Therapeutics in a research report on Thursday, March 28th. They issued an outperform rating and a $20.00 target price on the stock. Finally, Wells Fargo & Co upped their target price on Fate Therapeutics from $18.00 to $24.00 and gave the company an outperform rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $19.63.

Shares of NASDAQ FATE opened at $17.44 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -14.66 and a beta of 1.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.53 and a current ratio of 6.40. Fate Therapeutics has a twelve month low of $8.35 and a twelve month high of $19.11.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The business had revenue of $2.63 million for the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. Fate Therapeutics’s quarterly revenue was up 156.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.27) EPS. On average, analysts anticipate that Fate Therapeutics will post -1.1 earnings per share for the current fiscal year.

In related news, General Counsel Cindy Tahl sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.15, for a total value of $403,750.00. Following the completion of the sale, the general counsel now directly owns 115,418 shares in the company, valued at $1,864,000.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel D. Shoemaker sold 12,500 shares of the company’s stock in a transaction 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 sale, the insider now owns 148,091 shares of the company’s stock, valued at $2,508,661.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,041 shares of company stock valued at $1,507,558. 23.19% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. BlackRock Inc. lifted its stake in Fate Therapeutics by 45.0% during the fourth quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after purchasing an additional 1,562,252 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Fate Therapeutics by 150.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,318,860 shares of the biopharmaceutical company’s stock worth $16,921,000 after purchasing an additional 791,540 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Fate Therapeutics by 269.0% in the 4th quarter. Millennium Management LLC now owns 587,640 shares of the biopharmaceutical company’s stock valued at $7,539,000 after acquiring an additional 428,399 shares during the last quarter. Aquilo Capital Management LLC lifted its stake in shares of Fate Therapeutics by 69.7% in the 3rd quarter. Aquilo Capital Management LLC now owns 984,596 shares of the biopharmaceutical company’s stock valued at $16,039,000 after acquiring an additional 404,367 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of Fate Therapeutics by 12.7% in the 3rd quarter. Vanguard Group Inc now owns 2,448,279 shares of the biopharmaceutical company’s stock valued at $39,882,000 after acquiring an additional 275,828 shares during the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

About Fate Therapeutics

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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