Fate Therapeutics, Inc. (NASDAQ:FATE) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Thursday, August 17th. Wedbush reiterated an “outperform” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, May 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.30.

Shares of Fate Therapeutics (NASDAQ FATE) traded up 13.98% during midday trading on Tuesday, hitting $3.67. 737,300 shares of the stock were exchanged. The firm’s market cap is $151.99 million. The stock’s 50 day moving average is $2.99 and its 200 day moving average is $3.69. Fate Therapeutics has a 12-month low of $1.80 and a 12-month high of $5.68.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.02 million. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%. On average, equities research analysts forecast that Fate Therapeutics will post ($0.96) earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Fate Therapeutics by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 59,510 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 952 shares during the period. KCG Holdings Inc. boosted its position in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,764 shares during the period. Creative Planning boosted its position in Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 6,000 shares during the period. Renaissance Technologies LLC boosted its position in Fate Therapeutics by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 209,900 shares of the biopharmaceutical company’s stock worth $527,000 after buying an additional 21,900 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Fate Therapeutics during the first quarter worth approximately $145,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.

Fate Therapeutics Company Profile

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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