Zacks Investment Research cut shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a sell rating in a research note issued to investors on Wednesday, March 7th.
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. “
FATE has been the subject of several other research reports. ValuEngine raised shares of Fate Therapeutics from a sell rating to a hold rating in a report on Sunday, December 31st. Raymond James Financial reissued a buy rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. BMO Capital Markets boosted their price target on shares of Fate Therapeutics from $7.00 to $20.00 and gave the stock an outperform rating in a report on Tuesday, March 6th. HC Wainwright lowered shares of Fate Therapeutics from a buy rating to a neutral rating and set a $12.00 price target for the company. in a report on Tuesday, March 6th. Finally, Wedbush reissued an outperform rating and issued a $7.00 price target (down previously from $10.00) on shares of Fate Therapeutics in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $13.00.
Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. equities research analysts forecast that Fate Therapeutics will post -0.91 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in FATE. Schwab Charles Investment Management Inc. purchased a new stake in shares of Fate Therapeutics during the second quarter worth $214,000. Teachers Advisors LLC purchased a new stake in shares of Fate Therapeutics during the second quarter worth $233,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Fate Therapeutics during the second quarter worth $373,000. New York State Common Retirement Fund purchased a new stake in shares of Fate Therapeutics during the second quarter worth $131,000. Finally, Northern Trust Corp grew its holdings in shares of Fate Therapeutics by 968.7% during the second quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after buying an additional 333,753 shares in the last quarter. 66.43% of the stock is owned by institutional investors and hedge funds.
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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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