Fate Therapeutics (FATE) Shares Up 2.4%

Fate Therapeutics (NASDAQ:FATE) shares shot up 2.4% on Thursday . The stock traded as high as $11.69 and last traded at $11.72. 658,822 shares were traded during mid-day trading, a decline of 12% from the average session volume of 745,163 shares. The stock had previously closed at $11.45.

Several brokerages have recently weighed in on FATE. Wedbush restated an “outperform” rating and issued a $19.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 29th. ValuEngine upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. HC Wainwright downgraded shares of Fate Therapeutics from a “buy” rating to a “neutral” rating and set a $12.00 target price for the company. in a research note on Tuesday, March 6th. UBS downgraded shares of Fate Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 6th. Finally, Zacks Investment Research downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $15.00.

The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 0.19. The company has a market cap of $604.24, a P/E ratio of -11.31 and a beta of 1.74.



Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The company had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.02 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts expect that Fate Therapeutics will post -0.94 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Raymond James & Associates bought a new position in Fate Therapeutics during the 4th quarter valued at $141,000. The Manufacturers Life Insurance Company boosted its stake in Fate Therapeutics by 61.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 12,686 shares during the last quarter. California State Teachers Retirement System bought a new position in Fate Therapeutics during the 2nd quarter valued at $219,000. Russell Investments Group Ltd. bought a new position in Fate Therapeutics during the 3rd quarter valued at $234,000. Finally, Two Sigma Advisers LP boosted its stake in Fate Therapeutics by 257.0% during the 4th quarter. Two Sigma Advisers LP now owns 71,400 shares of the biopharmaceutical company’s stock valued at $436,000 after acquiring an additional 51,400 shares during the last quarter. Hedge funds and other institutional investors own 66.41% of the company’s stock.

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About Fate Therapeutics

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

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