Fate Therapeutics, Inc. (FATE) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fate Therapeutics, Inc. (NASDAQ:FATE) in a research report sent to investors on Friday. HC Wainwright currently has a $7.00 price target on the biopharmaceutical company’s stock.

“Early Encouraging Data With FATE-NK 100 in r/r AML at SITC Significant reductions of leukemic blasts observed in two patients. This morning, Fate reported initial clinical data from the ongoing VOYAGE Phase 1 study, which is investigating FATE-NK100 as a monotherapy for the treatment of r/r acute myelogenous leukemia (AML). After a single dose of FATE-NK100, we note that a subject in the second dose cohort (2×10 7 cells/kg) achieved a morphologic leukemia-free state (mLFS). At day 14, a bone marrow biopsy indicated total clearance of leukemic blasts in the marrow. A second patient from the first dose cohort of VOYAGE (1×10 7 cells/kg) had approximately 50% reduction in leukemic blasts. This patient had a tremendous high disease burden (87% blasts in the marrow). The patient that had the total clearance of leukemic blasts in the marrow had approximately 3×10 4 FATE-NK100 cells per mL in the peripheral blood at day 14 following treatment. In the other patient, after two weeks, approximately 76% of NK cells in the peripheral blood were of FATE-NK100 origin. We view these results as promising and look forward to additional data at higher doses as no dose limiting toxicities (DLTs) were reported so far. The next dose cohort is 1×10 8 cells/kg. In the trial, we note that FATE-NK100 cells persisted in both subjects for at least 14 days with a single dose. We believe this will play an important role for upcoming studies where Fate plans to investigate the combination of FATE-NK100 in advanced solid tumors with monoclonal antibody therapy.”,” the firm’s analyst commented.

FATE has been the topic of a number of other reports. Zacks Investment Research cut Fate Therapeutics from a buy rating to a hold rating in a report on Wednesday, September 6th. Leerink Swann restated an outperform rating and set a $7.00 price objective on shares of Fate Therapeutics in a research note on Friday, September 8th. BMO Capital Markets restated a buy rating and set a $7.00 price objective on shares of Fate Therapeutics in a research note on Thursday, November 2nd. Finally, ValuEngine cut Fate Therapeutics from a hold rating to a sell rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $6.79.

Shares of Fate Therapeutics (FATE) traded down $0.02 on Friday, hitting $4.42. The company had a trading volume of 414,500 shares, compared to its average volume of 289,555. Fate Therapeutics has a 12 month low of $2.13 and a 12 month high of $5.68. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.32.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The firm had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.95 million. The company’s quarterly revenue was up .0% on a year-over-year basis. sell-side analysts forecast that Fate Therapeutics will post -0.99 earnings per share for the current fiscal year.

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In other news, insider Daniel D. Shoemaker sold 13,225 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.87, for a total transaction of $51,180.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Cindy Tahl sold 8,091 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.85, for a total value of $31,150.35. The disclosure for this sale can be found here. Company insiders own 10.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Fate Therapeutics by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,264,281 shares of the biopharmaceutical company’s stock valued at $4,096,000 after purchasing an additional 108,602 shares during the last quarter. Morgan Stanley increased its position in shares of Fate Therapeutics by 9.8% during the 1st quarter. Morgan Stanley now owns 611,646 shares of the biopharmaceutical company’s stock valued at $2,783,000 after purchasing an additional 54,615 shares during the last quarter. State Street Corp purchased a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $1,437,000. Northern Trust Corp increased its holdings in Fate Therapeutics by 968.7% in the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after acquiring an additional 333,753 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Fate Therapeutics by 40.9% in the 1st quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock worth $1,345,000 after acquiring an additional 85,800 shares during the last quarter. 64.33% of the stock is owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

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.

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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