Fate Therapeutics, Inc. (NASDAQ:FATE) Given Consensus Recommendation of “Buy” by Brokerages

Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $95.00.

FATE has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Fate Therapeutics in a research note on Friday, April 1st. HC Wainwright reduced their price objective on Fate Therapeutics from $122.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Wedbush increased their price target on Fate Therapeutics from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 1st. StockNews.com upgraded Fate Therapeutics to a “sell” rating in a research note on Thursday, March 24th. Finally, Morgan Stanley cut their price target on Fate Therapeutics from $74.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 15th.

Fate Therapeutics stock traded down $1.59 during trading on Friday, hitting $37.98. 1,034,019 shares of the company were exchanged, compared to its average volume of 1,289,794. The company has a market capitalization of $3.66 billion, a P/E ratio of -17.03 and a beta of 1.57. The business’s 50 day moving average is $36.65 and its 200 day moving average is $48.03. Fate Therapeutics has a 52 week low of $29.40 and a 52 week high of $97.43.

Fate Therapeutics (NASDAQ:FATEGet Rating) last announced its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.04). The business had revenue of $17.10 million during the quarter, compared to the consensus estimate of $11.55 million. Fate Therapeutics had a negative net margin of 379.89% and a negative return on equity of 30.25%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Equities analysts expect that Fate Therapeutics will post -3.32 earnings per share for the current fiscal year.

In other Fate Therapeutics news, Director John Mendlein sold 31,562 shares of the firm’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $35.02, for a total value of $1,105,301.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Cindy Tahl sold 25,000 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $38.85, for a total value of $971,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,787 shares of company stock valued at $5,780,318. 18.58% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $46,191,000. BlackRock Inc. raised its holdings in shares of Fate Therapeutics by 5.5% in the 4th quarter. BlackRock Inc. now owns 7,060,552 shares of the biopharmaceutical company’s stock valued at $413,113,000 after acquiring an additional 365,006 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Fate Therapeutics by 12.3% in the 4th quarter. Vident Investment Advisory LLC now owns 18,506 shares of the biopharmaceutical company’s stock valued at $1,083,000 after acquiring an additional 2,023 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Fate Therapeutics by 30.2% in the 4th quarter. Woodline Partners LP now owns 199,076 shares of the biopharmaceutical company’s stock valued at $11,648,000 after acquiring an additional 46,119 shares in the last quarter. Finally, EFG Asset Management North America Corp. purchased a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $7,567,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

About Fate Therapeutics (Get Rating)

Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.

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