Fate Therapeutics (NASDAQ:FATE) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Fate Therapeutics (NASDAQ:FATE) from a buy rating to a hold rating in a research note issued to investors on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on FATE. Zacks Investment Research raised shares of Fate Therapeutics from a sell rating to a hold rating in a research report on Wednesday, July 10th. Roth Capital started coverage on shares of Fate Therapeutics in a research report on Friday, June 7th. They set a neutral rating and a $20.00 target price on the stock. Guggenheim started coverage on shares of Fate Therapeutics in a research report on Thursday, May 30th. They set a buy rating and a $25.00 target price on the stock. Citigroup reaffirmed a buy rating and set a $26.00 target price (up previously from $20.00) on shares of Fate Therapeutics in a research report on Friday, May 24th. Finally, Piper Jaffray Companies boosted their target price on shares of Fate Therapeutics from $23.00 to $30.00 and gave the stock a top pick rating in a research report on Thursday, June 27th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $23.43.

FATE stock traded down $1.07 on Friday, reaching $20.28. 919,687 shares of the company were exchanged, compared to its average volume of 652,473. Fate Therapeutics has a 12 month low of $9.00 and a 12 month high of $22.82. The company has a fifty day simple moving average of $20.89. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -17.04 and a beta of 1.64. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.26.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The company had revenue of $2.63 million for the quarter, compared to the consensus estimate of $2.01 million. During the same period last year, the firm posted ($0.27) EPS. The company’s revenue was up 156.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fate Therapeutics will post -1.32 earnings per share for the current fiscal year.

In other Fate Therapeutics news, insider J Scott Wolchko sold 14,335 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $19.37, for a total value of $277,668.95. Following the sale, the insider now owns 389,216 shares of the company’s stock, valued at approximately $7,539,113.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amir Nashat sold 71,166 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $22.52, for a total transaction of $1,602,658.32. The disclosure for this sale can be found here. Insiders sold a total of 409,476 shares of company stock worth $9,145,002 in the last three months. Insiders own 23.19% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FATE. Meeder Asset Management Inc. increased its holdings in Fate Therapeutics by 248.5% in the 1st quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 2,015 shares during the period. Aperio Group LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth about $79,000. Legal & General Group Plc grew its holdings in shares of Fate Therapeutics by 48.6% in 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. SG Americas Securities LLC bought a new stake in shares of Fate Therapeutics in the 1st quarter worth about $169,000. Finally, Jane Street Group LLC grew its holdings in shares of Fate Therapeutics by 34.8% in 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. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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