Fate Therapeutics (NASDAQ:FATE) Stock Rating Lowered by StockNews.com

Fate Therapeutics (NASDAQ:FATE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus cut their target price on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Wells Fargo & Company reduced their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

Fate Therapeutics Price Performance

Shares of NASDAQ FATE opened at $1.01 on Tuesday. Fate Therapeutics has a 1 year low of $0.87 and a 1 year high of $7.98. The stock has a market capitalization of $115.74 million, a P/E ratio of -0.61 and a beta of 2.26. The company’s 50-day moving average is $1.32 and its 200 day moving average is $2.30.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.86 million for the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Research analysts anticipate that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now owns 12,884,277 shares in the company, valued at $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Large investors have recently made changes to their positions in the company. Graham Capital Management L.P. purchased a new position in shares of Fate Therapeutics in the fourth quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics in the fourth quarter worth approximately $40,000. Brevan Howard Capital Management LP purchased a new position in shares of Fate Therapeutics during the 4th quarter worth $41,000. FPC Investment Advisory Inc. bought a new stake in shares of Fate Therapeutics during the 4th quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fate Therapeutics in the 4th quarter worth $55,000. 97.54% 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. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.