Fate Therapeutics (FATE) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a buy rating to a strong-buy rating in a research note published on Tuesday.

FATE has been the topic of a number of other reports. BMO Capital Markets increased their price objective on shares of Fate Therapeutics from $7.00 to $20.00 and gave the company an outperform rating in a research note on Tuesday, March 6th. ValuEngine raised shares of Fate Therapeutics from a buy rating to a strong-buy rating in a research note on Wednesday, May 2nd. HC Wainwright cut shares of Fate Therapeutics from a buy rating to a neutral rating and set a $12.00 price objective on the stock. in a research note on Tuesday, March 6th. Wells Fargo & Co reissued an outperform rating and issued a $19.00 price objective (up from $10.00) on shares of Fate Therapeutics in a research note on Tuesday, March 6th. Finally, Piper Jaffray Companies reaffirmed a top pick rating and set a $20.00 price target on shares of Fate Therapeutics in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $15.00.

Shares of Fate Therapeutics opened at $10.87 on Tuesday, according to MarketBeat Ratings. The stock has a market capitalization of $574.04 million, a P/E ratio of -10.66 and a beta of 1.74. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $14.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.20 and a current ratio of 7.20.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, May 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.05). The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $1.82 million. Fate Therapeutics had a negative net margin of 1,143.99% and a negative return on equity of 77.27%. Fate Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. equities research analysts expect that Fate Therapeutics will post -1.05 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Monashee Investment Management LLC acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth about $1,833,000. Two Sigma Investments LP acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth about $1,043,000. 683 Capital Management LLC boosted its stake in shares of Fate Therapeutics by 25.8% during the 4th quarter. 683 Capital Management LLC now owns 853,800 shares of the biopharmaceutical company’s stock worth $5,217,000 after purchasing an additional 175,000 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Fate Therapeutics by 873.6% during the 4th quarter. Millennium Management LLC now owns 338,799 shares of the biopharmaceutical company’s stock worth $2,070,000 after purchasing an additional 303,999 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth about $1,277,000. 74.39% of the stock is currently owned by institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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