Fate Therapeutics (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 $8.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.55% from the stock’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 issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Wednesday, December 13th. Raymond James Financial reissued a “buy” rating on shares of Fate Therapeutics in a research note on Tuesday, December 12th. BMO Capital Markets reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. ValuEngine raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Wedbush reissued an “outperform” rating and issued a $7.00 price target (down from $10.00) on shares of Fate Therapeutics in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $7.71.

Shares of Fate Therapeutics (NASDAQ FATE) traded up $0.19 during mid-day trading on Friday, reaching $7.37. The company had a trading volume of 413,633 shares, compared to its average volume of 525,577. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $7.40. The company has a market capitalization of $366.05, a PE ratio of -7.76 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.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The company had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. The company’s revenue was up .0% compared to the same quarter last year. sell-side analysts predict that Fate Therapeutics will post -0.98 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of FATE. State Street Corp acquired a new position in Fate Therapeutics in the second quarter valued at approximately $1,437,000. Northern Trust Corp lifted its stake in Fate Therapeutics by 968.7% in the second 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 during the period. TIAA CREF Investment Management LLC acquired a new position in Fate Therapeutics in the second quarter valued at approximately $373,000. Vanguard Group Inc. lifted its stake in Fate Therapeutics by 9.4% in the second quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after buying an additional 108,602 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Fate Therapeutics by 164.7% during the second quarter. Bank of New York Mellon Corp now owns 157,546 shares of the biopharmaceutical company’s stock worth $511,000 after purchasing an additional 98,036 shares during the period. 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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