Fate Therapeutics (FATE) Lowered to “Equal” at Stephens

Fate Therapeutics (NASDAQ:FATE) was downgraded by analysts at Stephens from an “overweight” rating to an “equal” rating in a research note issued to investors on Thursday, January 3rd.

FATE has been the subject of several other research reports. Zacks Investment Research upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. BidaskClub cut shares of Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 20th. Jefferies Financial Group began coverage on shares of Fate Therapeutics in a research report on Monday, November 5th. They set a “buy” rating and a $17.00 target price for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $25.00 target price on shares of Fate Therapeutics in a research report on Tuesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $17.25.

NASDAQ FATE opened at $17.04 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.44 and a current ratio of 9.44. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -16.71 and a beta of 2.03. Fate Therapeutics has a 1-year low of $6.50 and a 1-year high of $17.98.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.06). The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.24 million. Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.26) earnings per share. On average, sell-side analysts predict that Fate Therapeutics will post -1.21 EPS for the current year.

In related news, General Counsel Cindy Tahl sold 25,000 shares of the company’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the transaction, the general counsel now directly owns 47,426 shares of the company’s stock, valued at approximately $758,816. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amir Nashat sold 91,210 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $13.40, for a total transaction of $1,222,214.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,526 shares of company stock valued at $3,297,783. 9.89% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of FATE. Jane Street Group LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $116,000. PNC Financial Services Group Inc. acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $120,000. California Public Employees Retirement System acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $193,000. Partner Investment Management L.P. acquired a new position in shares of Fate Therapeutics during the 3rd quarter worth about $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth about $206,000. Institutional investors own 84.85% of the company’s stock.

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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