Fate Therapeutics Inc. (NASDAQ:FATE) shares shot up 16.6% during mid-day trading on Monday . The company traded as high as $2.59 and last traded at $2.46, with a volume of 928,471 shares trading hands. The stock had previously closed at $2.11.

A number of brokerages have recently issued reports on FATE. BMO Capital Markets initiated coverage on Fate Therapeutics in a research note on Monday, April 11th. They set an “outperform” rating and a $4.00 price objective on the stock. Leerink Swann reiterated an “outperform” rating and set a $4.00 target price on shares of Fate Therapeutics in a report on Tuesday, June 21st. HC Wainwright initiated coverage on shares of Fate Therapeutics in a report on Thursday, July 28th. They set a “buy” rating and a $9.00 target price for the company. Zacks Investment Research lowered shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fate Therapeutics has a consensus rating of “Buy” and a consensus price target of $6.17.

The company’s market capitalization is $72.74 million. The company has a 50 day moving average of $1.82 and a 200 day moving average of $1.85.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.04. Equities research analysts anticipate that Fate Therapeutics Inc. will post ($1.23) EPS for the current fiscal year.

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

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