Fate Therapeutics (NASDAQ:FATE) PT Raised to $6.00 at BMO Capital Markets

Fate Therapeutics (NASDAQ:FATE) had its price objective increased by investment analysts at BMO Capital Markets from $5.40 to $6.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 191.26% from the stock’s previous close.

Several other equities research analysts also recently issued reports on FATE. Wedbush restated a “neutral” rating and issued a $3.00 price target (down from $6.00) on shares of Fate Therapeutics in a report on Thursday. Truist Financial restated a “hold” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Wednesday, August 16th. StockNews.com assumed coverage on Fate Therapeutics in a report on Thursday, October 5th. They issued a “hold” rating for the company. Barclays lowered their price target on Fate Therapeutics from $12.00 to $6.00 and set an “overweight” rating for the company in a report on Thursday, August 10th. Finally, Morgan Stanley reduced their price objective on Fate Therapeutics from $8.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $10.73.

Fate Therapeutics Trading Down 3.3 %

NASDAQ FATE opened at $2.06 on Thursday. The stock has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $3.74. The company has a market capitalization of $203.03 million, a PE ratio of -1.16 and a beta of 1.46. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $23.96.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. Fate Therapeutics had a negative return on equity of 37.13% and a negative net margin of 163.04%. The business had revenue of $0.93 million during the quarter, compared to the consensus estimate of $5.41 million. During the same quarter in the prior year, the company posted ($0.79) earnings per share. The firm’s revenue was down 95.0% on a year-over-year basis. As a group, sell-side analysts predict that Fate Therapeutics will post -1.93 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Fate Therapeutics by 149.9% during the first quarter. State Street Corp now owns 14,830,084 shares of the biopharmaceutical company’s stock worth $84,531,000 after purchasing an additional 8,894,625 shares during the period. Millennium Management LLC increased its stake in shares of Fate Therapeutics by 347.1% during the fourth quarter. Millennium Management LLC now owns 2,864,476 shares of the biopharmaceutical company’s stock worth $28,903,000 after purchasing an additional 2,223,752 shares during the period. BlackRock Inc. increased its stake in shares of Fate Therapeutics by 18.0% during the first quarter. BlackRock Inc. now owns 11,476,243 shares of the biopharmaceutical company’s stock worth $65,415,000 after purchasing an additional 1,750,019 shares during the period. Bank of America Corp DE increased its stake in shares of Fate Therapeutics by 350.9% during the first quarter. Bank of America Corp DE now owns 2,154,529 shares of the biopharmaceutical company’s stock worth $12,281,000 after purchasing an additional 1,676,652 shares during the period. Finally, Baker BROS. Advisors LP increased its stake in shares of Fate Therapeutics by 675.0% during the first quarter. Baker BROS. Advisors LP now owns 1,671,717 shares of the biopharmaceutical company’s stock worth $9,529,000 after purchasing an additional 1,456,022 shares during the period.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma and FT522, to treat lymphoma and autoimmune disorders; and CAR T-cell programs include FT819 to treat hematologic malignancies and solid tumors, and FT825 to treat solid tumors.