Fate Therapeutics (FATE) Rating Increased to Hold at Zacks Investment Research

Fate Therapeutics (NASDAQ:FATE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group started coverage on Fate Therapeutics in a research report on Monday, November 5th. They issued a “buy” rating and a $17.00 target price on the stock. Stephens downgraded Fate Therapeutics from an “overweight” rating to an “equal” rating in a research report on Thursday, January 3rd. BidaskClub downgraded Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 19th. Finally, Wedbush boosted their target price on Fate Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Fate Therapeutics has a consensus rating of “Buy” and an average price target of $18.86.

Shares of Fate Therapeutics stock traded down $0.29 during trading hours on Wednesday, hitting $14.71. The company’s stock had a trading volume of 309,289 shares, compared to its average volume of 663,170. Fate Therapeutics has a 12-month low of $7.70 and a 12-month high of $17.98. The company has a market capitalization of $969.05 million, a price-to-earnings ratio of -14.42 and a beta of 2.06. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07.

In other Fate Therapeutics news, General Counsel Cindy Tahl sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $16.00, for a total transaction of $400,000.00. Following the sale, the general counsel now directly owns 47,426 shares of the company’s stock, valued at $758,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amir Nashat sold 53,017 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $14.16, for a total value of $750,720.72. The disclosure for this sale can be found here. Insiders sold 469,026 shares of company stock worth $6,928,487 over the last quarter. 9.89% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FATE. BlackRock Inc. increased its stake in Fate Therapeutics by 13.2% during the second quarter. BlackRock Inc. now owns 3,285,830 shares of the biopharmaceutical company’s stock worth $37,263,000 after acquiring an additional 382,821 shares during the last quarter. Bank of America Corp DE increased its stake in Fate Therapeutics by 245.3% during the second quarter. Bank of America Corp DE now owns 35,911 shares of the biopharmaceutical company’s stock worth $407,000 after acquiring an additional 25,511 shares during the last quarter. California Public Employees Retirement System bought a new stake in Fate Therapeutics during the second quarter worth approximately $193,000. Jane Street Group LLC bought a new stake in Fate Therapeutics during the second quarter worth approximately $116,000. Finally, Northern Trust Corp increased its stake in Fate Therapeutics by 14.4% during the second quarter. Northern Trust Corp now owns 568,272 shares of the biopharmaceutical company’s stock worth $6,444,000 after acquiring an additional 71,353 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

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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