Fate Therapeutics (FATE) Trading Up 2.4%

Fate Therapeutics (NASDAQ:FATE)’s share price was up 2.4% during trading on Thursday . The stock traded as high as $11.69 and last traded at $11.72. Approximately 658,822 shares changed hands during trading, a decline of 12% from the average daily volume of 745,163 shares. The stock had previously closed at $11.45.

Several equities analysts recently commented on FATE shares. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Tuesday, January 9th. BMO Capital Markets upped their price target on shares of Fate Therapeutics from $7.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 6th. HC Wainwright lowered shares of Fate Therapeutics from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Tuesday, March 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.00 price target (down previously from $10.00) on shares of Fate Therapeutics in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $15.00.

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The stock has a market capitalization of $604.24, a PE ratio of -11.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.29 and a current ratio of 9.29.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative return on equity of 71.00% and a negative net margin of 1,046.08%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million. Fate Therapeutics’s quarterly revenue was up .0% compared to the same quarter last year. research analysts anticipate that Fate Therapeutics will post -0.94 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC increased its position in shares of Fate Therapeutics by 285.1% in the fourth quarter. Redmile Group LLC now owns 5,465,486 shares of the biopharmaceutical company’s stock worth $33,394,000 after acquiring an additional 4,046,428 shares in the last quarter. BlackRock Inc. increased its position in shares of Fate Therapeutics by 2.6% in the fourth quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock worth $10,421,000 after acquiring an additional 43,499 shares in the last quarter. 683 Capital Management LLC increased its position in shares of Fate Therapeutics by 25.8% in the fourth quarter. 683 Capital Management LLC now owns 853,800 shares of the biopharmaceutical company’s stock worth $5,217,000 after acquiring an additional 175,000 shares in the last quarter. Endurant Capital Management LP increased its position in shares of Fate Therapeutics by 104.1% in the fourth quarter. Endurant Capital Management LP now owns 556,679 shares of the biopharmaceutical company’s stock worth $3,401,000 after acquiring an additional 283,979 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Fate Therapeutics in the second quarter worth $1,437,000. 66.41% of the stock is owned by institutional investors.

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About Fate Therapeutics

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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