Zacks Investment Research upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $7.50 price objective on the biopharmaceutical company’s stock.

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. “

Several other brokerages have also recently weighed in on FATE. ValuEngine upgraded shares of Fate Therapeutics from a sell rating to a hold rating in a research note on Sunday, December 31st. HC Wainwright reiterated a buy rating on shares of Fate Therapeutics in a research note on Thursday, November 2nd. BMO Capital Markets reiterated a buy rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. Wedbush reiterated an outperform rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Monday, December 18th. Finally, Piper Jaffray Companies assumed coverage on shares of Fate Therapeutics in a research note on Monday, December 18th. They set an overweight rating and a $10.00 price target on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Fate Therapeutics presently has a consensus rating of Buy and a consensus price target of $7.64.

Shares of Fate Therapeutics (FATE) traded up $0.21 during trading on Tuesday, hitting $7.01. 427,494 shares of the stock traded hands, compared to its average volume of 670,904. The stock has a market cap of $357.38, a PE ratio of -7.38 and a beta of 1.52. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $7.25. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.32.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly 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). The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $0.95 million. Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The company’s revenue was up .0% on a year-over-year basis. equities research analysts expect that Fate Therapeutics will post -0.98 EPS for the current fiscal year.

In related news, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The shares were 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 is available at the SEC website. Also, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. State Street Corp purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at $1,437,000. Northern Trust Corp lifted its stake 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. TIAA CREF Investment Management LLC purchased a new position in shares of Fate Therapeutics during the 2nd quarter valued at $373,000. Vanguard Group Inc. lifted its stake 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 valued at $4,096,000 after buying an additional 108,602 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $511,000 after buying an additional 98,036 shares in the last quarter. Institutional investors own 49.85% of the company’s stock.

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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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