Fate Therapeutics Inc. (FATE) Shares Down 5.4%
Fate Therapeutics Inc. (NASDAQ:FATE) shares dropped 5.4% during trading on Tuesday . The stock traded as low as $2.31 and last traded at $2.45, with a volume of 464,166 shares trading hands. The stock had previously closed at $2.59.
FATE has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Monday, July 11th. Wells Fargo & Co. reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, May 10th. BMO Capital Markets reiterated an “outperform” rating and set a $4.00 price target on shares of Fate Therapeutics in a report on Tuesday, June 21st. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday. Finally, Leerink Swann reiterated an “outperform” rating and set a $4.00 price target on shares of Fate Therapeutics in a report on Tuesday, June 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Fate Therapeutics has a consensus rating of “Buy” and an average target price of $6.17.
The firm has a 50 day moving average of $1.87 and a 200 day moving average of $1.84. The firm’s market cap is $65.92 million.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.03. The business earned $1.03 million during the quarter, compared to the consensus estimate of $1.02 million. Equities analysts forecast that Fate Therapeutics Inc. will post ($1.17) EPS for the current 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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