Fate Therapeutics (NASDAQ:FATE) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday, BidAskClub reports.

A number of other research firms have also commented on FATE. Guggenheim began coverage on Fate Therapeutics in a research note on Thursday, May 30th. They issued a “buy” rating and a $25.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and issued a $26.00 price objective (up from $20.00) on shares of Fate Therapeutics in a research note on Friday, May 24th. Roth Capital began coverage on Fate Therapeutics in a research note on Friday, June 7th. They issued a “neutral” rating and a $20.00 price objective on the stock. Zacks Investment Research lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Svb Leerink began coverage on Fate Therapeutics in a research note on Thursday, March 28th. They issued an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $21.36.

Shares of FATE stock opened at $19.90 on Friday. Fate Therapeutics has a 12 month low of $8.64 and a 12 month high of $20.84. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.26.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The company had revenue of $2.63 million during the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. Fate Therapeutics’s revenue was up 156.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) earnings per share. As a group, research analysts forecast that Fate Therapeutics will post -1.29 earnings per share for the current fiscal year.

In other Fate Therapeutics news, CEO J Scott Wolchko sold 8,541 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $16.17, for a total value of $138,107.97. Following the transaction, the chief executive officer now directly owns 375,973 shares of the company’s stock, valued at $6,079,483.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel D. Shoemaker sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $16.94, for a total value of $211,750.00. Following the completion of the transaction, the insider now directly owns 148,091 shares in the company, valued at $2,508,661.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,376 shares of company stock worth $627,527. Insiders own 23.19% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its holdings in shares of Fate Therapeutics by 248.5% during the first quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 2,015 shares in the last quarter. Creative Planning bought a new stake in shares of Fate Therapeutics during the fourth quarter valued at approximately $141,000. Legal & General Group Plc increased its holdings in shares of Fate Therapeutics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 3,719 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Fate Therapeutics during the first quarter valued at approximately $169,000. Finally, Jane Street Group LLC increased its holdings in shares of Fate Therapeutics by 34.8% during the fourth quarter. Jane Street Group LLC now owns 13,656 shares of the biopharmaceutical company’s stock valued at $175,000 after acquiring an additional 3,529 shares in the last quarter. 93.28% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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