Fate Therapeutics Inc (FATE) Receives $18.83 Average PT from Brokerages

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Fate Therapeutics Inc (NASDAQ:FATE) has been assigned an average rating of “Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $18.57.

A number of research analysts recently weighed in on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, September 25th. BidaskClub upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Jefferies Financial Group initiated coverage on shares of Fate Therapeutics in a research note on Monday. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Finally, Wedbush restated an “outperform” rating and set a $19.00 price target on shares of Fate Therapeutics in a research report on Tuesday, August 7th.

Fate Therapeutics stock traded up $0.58 during mid-day trading on Wednesday, reaching $15.10. The company’s stock had a trading volume of 1,108,176 shares, compared to its average volume of 660,625. Fate Therapeutics has a 12-month low of $3.80 and a 12-month high of $16.94. The firm has a market capitalization of $951.65 million, a price-to-earnings ratio of -14.80 and a beta of 1.95. The company has a current ratio of 9.44, a quick ratio of 9.44 and a debt-to-equity ratio of 0.07.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.06). Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%. The business had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.24 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Fate Therapeutics will post -1.19 EPS for the current year.

In other news, Director Redmile Group, Llc purchased 3,703,704 shares of Fate Therapeutics stock in a transaction dated Tuesday, September 25th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 9.89% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Advisors LLC grew its position in shares of Fate Therapeutics by 12.8% during the 2nd quarter. Boston Advisors LLC now owns 58,030 shares of the biopharmaceutical company’s stock valued at $658,000 after purchasing an additional 6,570 shares in the last quarter. First Mercantile Trust Co. grew its position in shares of Fate Therapeutics by 113.7% during the 2nd quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 6,863 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Fate Therapeutics by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 105,300 shares of the biopharmaceutical company’s stock valued at $1,195,000 after purchasing an additional 7,800 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at $116,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at $120,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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