Fate Therapeutics (NASDAQ:FATE) Rating Lowered to Hold at Zacks Investment Research

Fate Therapeutics (NASDAQ:FATE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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 research analysts have also recently issued reports on the stock. Wedbush raised their target price on shares of Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Stifel Nicolaus initiated coverage on shares of Fate Therapeutics in a report on Monday, September 30th. They set a “buy” rating and a $27.00 target price for the company. BTIG Research initiated coverage on shares of Fate Therapeutics in a report on Friday, August 9th. They set a “buy” rating and a $27.00 target price for the company. BidaskClub cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets reduced their target price on shares of Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Fate Therapeutics presently has an average rating of “Buy” and a consensus target price of $24.38.

Shares of NASDAQ FATE traded up $0.05 during midday trading on Friday, reaching $14.60. The company had a trading volume of 582,100 shares, compared to its average volume of 729,887. The business’s 50-day simple moving average is $15.13 and its 200 day simple moving average is $17.97. The stock has a market cap of $1.03 billion, a P/E ratio of -12.27 and a beta of 1.81. Fate Therapeutics has a 1 year low of $11.00 and a 1 year high of $22.82. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.28.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The company had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $1.75 million. Fate Therapeutics had a negative return on equity of 59.38% and a negative net margin of 900.24%. The company’s quarterly revenue was up 136.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.31) EPS. Analysts predict that Fate Therapeutics will post -1.42 earnings per share for the current year.

In related news, General Counsel Cindy Tahl sold 10,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.24, for a total transaction of $145,248.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bahram Valamehr sold 6,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.18, for a total transaction of $87,916.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,417 shares of company stock valued at $536,649. 23.19% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new stake in Fate Therapeutics during the second quarter valued at $79,000. Bank of Montreal Can grew its position in Fate Therapeutics by 43,680.0% during the second quarter. Bank of Montreal Can now owns 4,378 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 4,368 shares during the period. Cubist Systematic Strategies LLC grew its position in Fate Therapeutics by 72.9% during the second quarter. Cubist Systematic Strategies LLC now owns 4,948 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,086 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Fate Therapeutics during the third quarter valued at $121,000. Finally, Meeder Asset Management Inc. grew its position in Fate Therapeutics by 257.7% during the second quarter. Meeder Asset Management Inc. now owns 10,108 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 7,282 shares during the period. Institutional investors own 97.19% of the company’s stock.

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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