Fate Therapeutics Inc (NASDAQ:FATE) has earned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.83.

A number of equities research analysts have recently weighed in on the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $23.00 price target on shares of Fate Therapeutics in a report on Tuesday, September 25th. BidaskClub upgraded Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of Fate Therapeutics in a report on Tuesday, August 7th. Finally, HC Wainwright reiterated a “hold” rating and issued a $12.00 price target on shares of Fate Therapeutics in a report on Tuesday, August 7th.

In other news, Director Redmile Group, Llc purchased 3,703,704 shares of the stock in a transaction dated Tuesday, September 25th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.89% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp boosted its position in Fate Therapeutics by 14.4% during the 2nd quarter. Northern Trust Corp now owns 568,272 shares of the biopharmaceutical company’s stock valued at $6,444,000 after purchasing an additional 71,353 shares during the period. Moody Aldrich Partners LLC acquired a new position in Fate Therapeutics during the 2nd quarter valued at approximately $946,000. Bank of New York Mellon Corp boosted its position in Fate Therapeutics by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 290,529 shares of the biopharmaceutical company’s stock valued at $3,294,000 after purchasing an additional 13,839 shares during the period. Jane Street Group LLC acquired a new position in Fate Therapeutics during the 2nd quarter valued at approximately $116,000. Finally, California Public Employees Retirement System acquired a new position in Fate Therapeutics during the 2nd quarter valued at approximately $193,000. Institutional investors and hedge funds own 80.61% of the company’s stock.

FATE stock traded up $0.21 during midday trading on Friday, hitting $13.51. 656,579 shares of the company’s stock were exchanged, compared to its average volume of 648,599. Fate Therapeutics has a 12-month low of $3.50 and a 12-month high of $16.94. The company has a quick ratio of 4.92, a current ratio of 4.92 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $870.20 million, a PE ratio of -13.25 and a beta of 1.72.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). Fate Therapeutics had a negative net margin of 1,387.53% and a negative return on equity of 95.07%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.02 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fate Therapeutics will post -1.16 EPS for the current year.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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