Fate Therapeutics, Inc. (NASDAQ:FATE) Downgraded to Sell at ValuEngine
ValuEngine cut shares of Fate Therapeutics, Inc. (NASDAQ:FATE) from a hold rating to a sell rating in a research note published on Monday morning.
Separately, Wedbush reiterated an outperform rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Fate Therapeutics currently has a consensus rating of Buy and a consensus price target of $6.25.
Shares of Fate Therapeutics (NASDAQ FATE) traded up 2.50% during midday trading on Monday, hitting $2.87. The stock had a trading volume of 12,437 shares. The stock has a 50-day moving average of $3.11 and a 200 day moving average of $3.70. The stock’s market cap is $118.82 million. Fate Therapeutics has a 52 week low of $1.80 and a 52 week high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.03. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.04 million. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%. Analysts anticipate that Fate Therapeutics will post ($1.00) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Fate Therapeutics by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 59,510 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 952 shares in the last quarter. KCG Holdings Inc. boosted its position in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,764 shares in the last quarter. Creative Planning boosted its position in Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 6,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in Fate Therapeutics by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 209,900 shares of the biopharmaceutical company’s stock worth $527,000 after buying an additional 21,900 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Fate Therapeutics during the first quarter worth about $145,000. Institutional investors and hedge funds own 60.74% of the company’s stock.
Fate Therapeutics Company Profile
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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