Fate Therapeutics Inc. (FATE) Price Target Cut to $7.00
Fate Therapeutics Inc. (NASDAQ:FATE) had its target price lowered by analysts at Wedbush from $8.00 to $7.00 in a note issued to investors on Tuesday. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price objective indicates a potential upside of 218.18% from the company’s current price.
FATE has been the subject of several other research reports. Zacks Investment Research downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Roth Capital began coverage on shares of Fate Therapeutics in a research note on Thursday, September 22nd. They set a “buy” rating and a $8.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating on shares of Fate Therapeutics in a research note on Tuesday, August 9th. Finally, BMO Capital Markets set a $4.00 price objective on shares of Fate Therapeutics and gave the company a “buy” rating in a research note on Monday, August 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $5.79.
Shares of Fate Therapeutics (NASDAQ:FATE) opened at 2.20 on Tuesday. The company’s market cap is $63.57 million. Fate Therapeutics has a 1-year low of $1.46 and a 1-year high of $4.76. The stock’s 50 day moving average is $2.62 and its 200 day moving average is $2.19.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. Fate Therapeutics had a negative net margin of 740.69% and a negative return on equity of 107.66%. On average, analysts predict that Fate Therapeutics will post ($1.13) earnings per share for the current year.
Several hedge funds have recently bought and sold shares of FATE. Board of Trustees of The Leland Stanford Junior University purchased a new stake in Fate Therapeutics during the second quarter valued at $495,000. Emerald Acquisition Ltd. purchased a new stake in Fate Therapeutics during the second quarter valued at $137,000. Northern Trust Corp boosted its stake in Fate Therapeutics by 51.3% in the third quarter. Northern Trust Corp now owns 38,625 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 13,094 shares during the period. Redmile Group LLC boosted its stake in Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock valued at $2,554,000 after buying an additional 15,200 shares during the period. Finally, Lombard Odier Asset Management USA Corp boosted its stake in 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 valued at $436,000 after buying an additional 7,052 shares during the period. 41.14% of the stock is owned by institutional investors and hedge funds.
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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