HC Wainwright Reaffirms “Buy” Rating for Fate Therapeutics (NASDAQ:FATE)

HC Wainwright reissued their buy rating on shares of Fate Therapeutics (NASDAQ:FATE) in a report released on Tuesday morning, TipRanks reports. They currently have a $122.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on FATE. Wedbush raised Fate Therapeutics from a neutral rating to an outperform rating and lifted their price objective for the company from $71.00 to $74.00 in a report on Wednesday, December 15th. SVB Leerink lowered their price target on Fate Therapeutics from $118.00 to $115.00 and set an outperform rating for the company in a report on Monday, November 8th. Guggenheim lowered their price target on Fate Therapeutics from $107.00 to $78.00 in a report on Monday, January 3rd. Cowen initiated coverage on Fate Therapeutics in a report on Tuesday, December 7th. They set an outperform rating for the company. Finally, Citigroup raised Fate Therapeutics from a neutral rating to a buy rating and lowered their price target for the stock from $94.00 to $87.00 in a report on Monday, November 8th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $106.47.

Shares of NASDAQ FATE opened at $43.28 on Tuesday. The business has a fifty day moving average price of $54.40 and a two-hundred day moving average price of $66.87. Fate Therapeutics has a fifty-two week low of $40.33 and a fifty-two week high of $119.85.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Thursday, November 4th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.13. The firm had revenue of $14.23 million during the quarter, compared to analysts’ expectations of $8.67 million. Fate Therapeutics had a negative return on equity of 28.25% and a negative net margin of 359.66%. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.36) EPS. As a group, equities research analysts forecast that Fate Therapeutics will post -2.27 EPS for the current fiscal year.

In other news, CFO Edward J. Dulac III sold 1,770 shares of the business’s stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of $48.45, for a total value of $85,756.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Yu-Waye Chu sold 7,500 shares of the business’s stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $51.46, for a total value of $385,950.00. The disclosure for this sale can be found here. Insiders sold a total of 151,702 shares of company stock worth $7,925,537 in the last quarter. Corporate insiders own 18.58% of the company’s stock.

Large investors have recently made changes to their positions in the company. Eaton Vance Management lifted its stake in shares of Fate Therapeutics by 99.6% in the 3rd quarter. Eaton Vance Management now owns 545 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 272 shares during the period. US Bancorp DE lifted its stake in shares of Fate Therapeutics by 51.3% in the 2nd quarter. US Bancorp DE now owns 790 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 268 shares during the period. Profund Advisors LLC acquired a new position in shares of Fate Therapeutics in the 2nd quarter valued at about $204,000. LPL Financial LLC lifted its stake in shares of Fate Therapeutics by 21.5% in the 3rd quarter. LPL Financial LLC now owns 3,444 shares of the biopharmaceutical company’s stock valued at $204,000 after purchasing an additional 609 shares during the period. Finally, Level Four Advisory Services LLC raised its stake in Fate Therapeutics by 16.1% during the 3rd quarter. Level Four Advisory Services LLC now owns 3,517 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 487 shares during the period. 99.29% of the stock is currently owned by institutional investors.

About Fate Therapeutics

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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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