Fate Therapeutics (NASDAQ:FATE)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued on Thursday. They presently have a $7.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $10.00. Wedbush’s target price would indicate a potential downside of 1.96% from the stock’s previous close.

Several other research firms also recently weighed in on FATE. Zacks Investment Research downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a report on Thursday, November 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies began coverage on shares of Fate Therapeutics in a report on Monday, December 18th. They issued an “overweight” rating and a $10.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $7.64.

Fate Therapeutics (NASDAQ FATE) traded up $0.18 during trading on Thursday, reaching $7.14. 262,309 shares of the company traded hands, compared to its average volume of 538,955. Fate Therapeutics has a 12-month low of $2.52 and a 12-month high of $7.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21. The firm has a market cap of $354.84, a P/E ratio of -7.52 and a beta of 1.52.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share 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 analyst estimates of $0.95 million. The company’s revenue was up .0% on a year-over-year basis. research analysts predict that Fate Therapeutics will post -0.98 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its position in Fate Therapeutics by 968.7% in 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 during the period. Bank of New York Mellon Corp lifted its position in shares of 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 worth $511,000 after purchasing an additional 98,036 shares during the last quarter. TIAA CREF Investment Management LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $373,000. OxFORD Asset Management LLP purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $303,000. Finally, Vanguard Group Inc. lifted its position in shares of Fate Therapeutics by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock worth $4,096,000 after purchasing an additional 108,602 shares during the last quarter. 49.85% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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