Fate Therapeutics (NASDAQ:FATE) Given a $27.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $27.00 target price on Fate Therapeutics (NASDAQ:FATE) in a research report sent to investors on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on FATE. Roth Capital assumed coverage on shares of Fate Therapeutics in a research report on Friday, June 7th. They issued a neutral rating and a $20.00 target price on the stock. Zacks Investment Research upgraded shares of Fate Therapeutics from a sell rating to a hold rating in a research report on Wednesday, July 10th. BidaskClub lowered shares of Fate Therapeutics from a buy rating to a hold rating in a research report on Saturday, August 3rd. CIBC assumed coverage on shares of Fate Therapeutics in a research report on Friday, July 12th. They issued an outperform rating and a $27.00 target price on the stock. Finally, Guggenheim initiated coverage on shares of Fate Therapeutics in a research report on Thursday, May 30th. They issued a buy rating and a $25.00 target price on the stock. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $25.00.

Fate Therapeutics stock traded down $0.54 during mid-day trading on Wednesday, reaching $18.71. The company had a trading volume of 650,489 shares, compared to its average volume of 718,474. Fate Therapeutics has a fifty-two week low of $10.69 and a fifty-two week high of $22.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.40 and a current ratio of 5.61. The firm has a market cap of $1.26 billion, a P/E ratio of -15.72 and a beta of 1.64. The company has a fifty day moving average of $20.94.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). Fate Therapeutics had a negative net margin of 934.70% and a negative return on equity of 50.05%. The company had revenue of $2.80 million during the quarter, compared to analyst estimates of $1.09 million. During the same quarter in the prior year, the business earned ($0.37) EPS. The business’s quarterly revenue was up 180.0% on a year-over-year basis. Sell-side analysts predict that Fate Therapeutics will post -1.35 earnings per share for the current fiscal year.

In other news, insider J Scott Wolchko sold 14,335 shares of Fate Therapeutics stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $19.37, for a total transaction of $277,668.95. Following the transaction, the insider now owns 389,216 shares in the company, valued at $7,539,113.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amir Nashat sold 62,005 shares of Fate Therapeutics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.53, for a total transaction of $1,396,972.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 409,476 shares of company stock worth $9,145,002. 23.19% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of FATE. Meeder Asset Management Inc. raised its stake in Fate Therapeutics by 248.5% during the first quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 2,015 shares during the last quarter. Aperio Group LLC bought a new position in Fate Therapeutics during the second quarter worth $79,000. Bank of Montreal Can raised its stake 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 worth $89,000 after buying an additional 4,368 shares during the last quarter. SG Americas Securities LLC bought a new position in Fate Therapeutics during the first quarter worth $169,000. Finally, Legal & General Group Plc raised its stake in Fate Therapeutics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 3,719 shares during the last quarter. Institutional investors own 94.81% of the company’s stock.

About Fate Therapeutics

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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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