Fate Therapeutics (NASDAQ:FATE) Upgraded to Hold at StockNews.com

Posted by on Apr 12th, 2023

Fate Therapeutics (NASDAQ:FATE – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Other equities research analysts have also issued reports about the stock. Bank of America lowered shares of Fate Therapeutics from a “buy” rating to an “underperform” rating in a report on Friday, January 6th. Truist Financial reissued a “hold” rating and set a $7.00 price objective (down from $46.00) on shares of Fate Therapeutics in a research report on Friday, January 6th. Stifel Nicolaus downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, January 6th. Cantor Fitzgerald downgraded shares of Fate Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, January 9th. Finally, HC Wainwright cut shares of Fate Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $115.00 to $7.00 in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.44.

Fate Therapeutics Trading Up 2.9 %

NASDAQ:FATE opened at $5.64 on Wednesday. The stock has a market capitalization of $553.62 million, a price-to-earnings ratio of -1.94 and a beta of 1.49. The firm has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $12.40. Fate Therapeutics has a 12 month low of $4.02 and a 12 month high of $39.24.

Fate Therapeutics (NASDAQ:FATE – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.28. The firm had revenue of $44.36 million during the quarter, compared to the consensus estimate of $18.41 million. Fate Therapeutics had a negative net margin of 292.55% and a negative return on equity of 50.86%. The company’s revenue was up 159.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.72) earnings per share. Equities analysts predict that Fate Therapeutics will post -2 earnings per share for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In related news, Director John Mendlein acquired 36,631 shares of Fate Therapeutics stock in a transaction dated Friday, January 13th. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $198,906.33. Following the completion of the transaction, the director now directly owns 282,770 shares of the company’s stock, valued at $1,535,441.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Natixis bought a new position in Fate Therapeutics during the 4th quarter worth approximately $29,000. CI Investments Inc. lifted its holdings in Fate Therapeutics by 413.7% during the 4th quarter. CI Investments Inc. now owns 3,082 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 2,482 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Fate Therapeutics during the 4th quarter worth approximately $42,000. Advisor Group Holdings Inc. lifted its holdings in Fate Therapeutics by 520.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 6,371 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 5,344 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Fate Therapeutics during the 3rd quarter worth approximately $69,000.

Fate Therapeutics Company Profile

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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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