Fate Therapeutics (FATE) Shares Down 5.2%

Fate Therapeutics Inc (NASDAQ:FATE) shares fell 5.2% during mid-day trading on Thursday . The stock traded as low as $13.29 and last traded at $13.30. 682,480 shares traded hands during trading, an increase of 5% from the average session volume of 648,560 shares. The stock had previously closed at $14.03.

Several brokerages recently issued reports on FATE. BidaskClub raised Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $23.00 target price on shares of Fate Therapeutics in a research report on Tuesday, September 25th. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Wedbush reaffirmed an “outperform” rating and set a $19.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Finally, HC Wainwright reaffirmed a “hold” rating and set a $12.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $17.29.

The company has a debt-to-equity ratio of 0.25, a current ratio of 4.92 and a quick ratio of 4.92. The firm has a market capitalization of $870.20 million, a price-to-earnings ratio of -13.25 and a beta of 1.72.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). Fate Therapeutics had a negative return on equity of 95.07% and a negative net margin of 1,387.53%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $1.02 million. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Fate Therapeutics Inc will post -1.16 EPS for the current year.

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 3,703,704 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.89% of the company’s stock.

Institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. grew its stake in shares of Fate Therapeutics by 113.7% in the 2nd quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 6,863 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $870,000. Swiss National Bank acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $833,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $206,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $907,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.

About Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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