Zacks Investment Research downgraded shares of Fate Therapeutics Inc. (NASDAQ:FATE) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

Several other research firms have also recently commented on FATE. HC Wainwright reissued a buy rating on shares of Fate Therapeutics in a research note on Tuesday, August 9th. Roth Capital initiated coverage on Fate Therapeutics in a research note on Thursday, September 22nd. They issued a buy rating and a $8.00 target price for the company. Leerink Swann reissued an outperform rating and issued a $4.00 target price on shares of Fate Therapeutics in a research note on Tuesday, June 21st. Finally, BMO Capital Markets reissued an outperform rating and issued a $4.00 target price on shares of Fate Therapeutics in a research note on Tuesday, June 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Fate Therapeutics presently has an average rating of Buy and a consensus target price of $6.29.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

Shares of Fate Therapeutics (NASDAQ:FATE) opened at 2.95 on Tuesday. Fate Therapeutics has a 12-month low of $1.46 and a 12-month high of $5.02. The firm has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.15. The stock’s market cap is $85.24 million.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.03. The company earned $1.03 million during the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics had a negative return on equity of 90.94% and a negative net margin of 699.10%. Equities research analysts predict that Fate Therapeutics will post ($1.13) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of FATE. Spark Investment Management LLC raised its stake in shares of Fate Therapeutics by 1.8% in the first quarter. Spark Investment Management LLC now owns 63,700 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 1,100 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Fate Therapeutics by 66.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 69,394 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 27,578 shares during the period. Renaissance Technologies LLC raised its stake in shares of Fate Therapeutics by 151.6% in the first quarter. Renaissance Technologies LLC now owns 222,700 shares of the biopharmaceutical company’s stock worth $401,000 after buying an additional 134,200 shares during the period. Redmile Group LLC raised its stake in shares of Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock worth $2,554,000 after buying an additional 15,200 shares during the period. Finally, Lombard Odier Asset Management USA Corp raised its stake in shares of Fate Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 256,426 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 7,052 shares during the period. Institutional investors own 41.22% of the company’s stock.

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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