Oppenheimer started coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research report released on Friday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $27.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on FATE. Citigroup set a $27.00 target price on shares of PhaseBio Pharmaceuticals and gave the company a buy rating in a research note on Friday, May 24th. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. Guggenheim reaffirmed a hold rating on shares of Burlington Stores in a research note on Thursday, May 30th. Piper Jaffray Companies downgraded shares of Pioneer Energy Services from an overweight rating to a neutral rating in a research note on Thursday, June 27th. Finally, Svb Leerink started coverage on shares of Fate Therapeutics in a research note on Thursday, March 28th. They issued an outperform rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $22.77.

Shares of NASDAQ FATE opened at $22.14 on Friday. The firm has a 50 day simple moving average of $19.65. Fate Therapeutics has a fifty-two week low of $8.64 and a fifty-two week high of $22.61. The company has a current ratio of 6.40, a quick ratio of 6.40 and a debt-to-equity ratio of 0.26.

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

In other news, CEO J Scott Wolchko sold 8,541 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $16.17, for a total transaction of $138,107.97. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel D. Shoemaker sold 12,500 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $20.21, for a total transaction of $252,625.00. Following the sale, the insider now directly owns 148,091 shares of the company’s stock, valued at approximately $2,992,919.11. The disclosure for this sale can be found here. Insiders have sold 35,376 shares of company stock valued at $668,402 in the last three months. 23.19% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of FATE. Meeder Asset Management Inc. increased its position 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 worth $50,000 after acquiring an additional 2,015 shares in the last quarter. Legal & General Group Plc increased its position 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 worth $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 worth $169,000. Jane Street Group LLC increased its position 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 worth $175,000 after acquiring an additional 3,529 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Fate Therapeutics during the first quarter worth $221,000. 93.28% of the stock is owned by institutional investors.

About Fate Therapeutics

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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