Piper Jaffray Companies assumed coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research note published on Monday, December 18th, Marketbeat.com reports. The firm issued an overweight rating and a $10.00 price target on the biopharmaceutical company’s stock.
Several other research analysts have also recently issued reports on the company. HC Wainwright reissued a buy rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Wednesday, December 13th. Raymond James Financial reissued a buy rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. ValuEngine cut Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. BMO Capital Markets reissued a buy rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Thursday, November 2nd. Finally, Zacks Investment Research cut Fate Therapeutics from a buy rating to a hold rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $7.64.
Fate Therapeutics (NASDAQ FATE) traded up $0.10 during midday trading on Monday, reaching $6.80. The company had a trading volume of 409,386 shares, compared to its average volume of 662,946. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $7.25. The company has a market cap of $346.68, a P/E ratio of -7.16 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21.
In other news, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.87, for a total value of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Fate Therapeutics by 968.7% during the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock valued at $1,193,000 after buying an additional 333,753 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Fate Therapeutics by 164.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock valued at $511,000 after purchasing an additional 98,036 shares during the period. Morgan Stanley raised its stake in Fate Therapeutics by 9.8% during the 1st quarter. Morgan Stanley now owns 611,646 shares of the biopharmaceutical company’s stock valued at $2,783,000 after purchasing an additional 54,615 shares during the period. TIAA CREF Investment Management LLC bought a new stake in Fate Therapeutics during the 2nd quarter valued at approximately $373,000. Finally, OxFORD Asset Management LLP bought a new stake in Fate Therapeutics during the 2nd quarter valued at approximately $303,000. 49.85% of the stock is currently owned by hedge funds and other institutional investors.
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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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