Fate Therapeutics, Inc. (FATE) Stock Rating Upgraded by Zacks Investment Research
Fate Therapeutics, Inc. (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $4.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.29% from the company’s current price.
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. “
Other equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, May 16th. Finally, Leerink Swann reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.63.
Shares of Fate Therapeutics (FATE) opened at 4.12 on Friday. The firm has a 50-day moving average price of $3.17 and a 200-day moving average price of $3.74. Fate Therapeutics has a 1-year low of $1.80 and a 1-year high of $5.68. The firm’s market capitalization is $170.63 million.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. The company had revenue of $1.03 million during the quarter, compared to analysts’ expectations 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, analysts forecast that Fate Therapeutics will post ($0.96) EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Fate Therapeutics by 35.3% during the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 6,000 shares during the period. KCG Holdings Inc. raised its stake in Fate Therapeutics by 7.8% during the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 1,764 shares during the period. New York State Common Retirement Fund acquired a new stake in Fate Therapeutics during the second quarter worth about $131,000. Rhumbline Advisers acquired a new stake in Fate Therapeutics during the second quarter worth about $133,000. Finally, Driehaus Capital Management LLC acquired a new stake in Fate Therapeutics during the first quarter worth about $145,000. Hedge funds and other institutional investors own 64.27% 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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