Fate Therapeutics (NASDAQ:FATE) Upgraded by Piper Sandler to “Overweight”

Fate Therapeutics (NASDAQ:FATEGet Free Report) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $6.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $4.00. Piper Sandler’s price target would indicate a potential upside of 75.95% from the company’s current price.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. StockNews.com cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Bank of America lifted their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.75.

View Our Latest Research Report on FATE

Fate Therapeutics Stock Performance

NASDAQ FATE opened at $3.41 on Monday. The firm has a 50-day moving average of $4.13 and a 200-day moving average of $5.04. The stock has a market cap of $388.16 million, a PE ratio of -1.78 and a beta of 1.90. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.47). The company had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same quarter last year, the company posted ($0.19) EPS. As a group, analysts predict that Fate Therapeutics will post -1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Artal Group S.A. bought a new stake in shares of Fate Therapeutics during the 1st quarter valued at approximately $2,645,000. Bayesian Capital Management LP grew its holdings in shares of Fate Therapeutics by 102.7% during the 1st quarter. Bayesian Capital Management LP now owns 39,800 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 20,164 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Fate Therapeutics during the 1st quarter valued at approximately $2,130,000. Baker BROS. Advisors LP bought a new stake in shares of Fate Therapeutics during the 1st quarter valued at approximately $13,345,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Fate Therapeutics by 404.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after purchasing an additional 219,932 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

(Get Free Report)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.

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