Fate Therapeutics, Inc. (NASDAQ:FATE) Given Average Recommendation of “Buy” by Analysts
Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) have been given a consensus rating of “Buy” by the nineteen research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $78.89.
Several brokerages have weighed in on FATE. Piper Sandler increased their price target on shares of Fate Therapeutics from $71.00 to $99.00 and gave the company an “overweight” rating in a research report on Monday, December 7th. BMO Capital Markets increased their price target on shares of Fate Therapeutics from $57.00 to $88.00 and gave the company a “market perform” rating in a research report on Monday, January 25th. Wedbush raised their target price on shares of Fate Therapeutics from $55.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, December 7th. HC Wainwright reaffirmed a “neutral” rating and issued a $108.00 target price on shares of Fate Therapeutics in a research report on Wednesday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of Fate Therapeutics from $61.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, December 7th.
In other Fate Therapeutics news, CEO J Scott Wolchko sold 60,000 shares of Fate Therapeutics stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $51.87, for a total transaction of $3,112,200.00. Also, insider Daniel D. Shoemaker sold 25,000 shares of Fate Therapeutics stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $51.83, for a total transaction of $1,295,750.00. Following the transaction, the insider now directly owns 113,159 shares in the company, valued at approximately $5,865,030.97. The disclosure for this sale can be found here. Insiders have sold 311,651 shares of company stock valued at $30,351,069 over the last 90 days. 21.41% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FATE. BlackRock Inc. lifted its holdings in shares of Fate Therapeutics by 7.6% in the third quarter. BlackRock Inc. now owns 6,566,634 shares of the biopharmaceutical company’s stock worth $262,469,000 after buying an additional 466,488 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Fate Therapeutics by 41.2% in the third quarter. ARK Investment Management LLC now owns 1,439,970 shares of the biopharmaceutical company’s stock worth $57,556,000 after buying an additional 420,140 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new position in shares of Fate Therapeutics in the fourth quarter worth $24,562,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Fate Therapeutics by 86,372.0% in the third quarter. Cubist Systematic Strategies LLC now owns 86,472 shares of the biopharmaceutical company’s stock worth $3,456,000 after buying an additional 86,372 shares in the last quarter. Finally, Morgan Stanley increased its position in Fate Therapeutics by 39.0% in the third quarter. Morgan Stanley now owns 282,308 shares of the biopharmaceutical company’s stock worth $11,284,000 after purchasing an additional 79,211 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FATE opened at $93.16 on Tuesday. The company’s fifty day moving average price is $100.14 and its 200-day moving average price is $58.10. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of -50.63 and a beta of 1.88. Fate Therapeutics has a one year low of $16.75 and a one year high of $121.16.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.39). Fate Therapeutics had a negative net margin of 810.13% and a negative return on equity of 35.51%. The business had revenue of $7.56 million for the quarter, compared to the consensus estimate of $7.49 million. During the same period in the prior year, the business posted ($0.40) EPS. Fate Therapeutics’s revenue for the quarter was up 211.2% on a year-over-year basis. As a group, research analysts forecast that Fate Therapeutics will post -1.53 earnings per share for the current fiscal year.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development includes FT516 for the treatment of acute myeloid leukemia (AML) and B-cell lymphoma, FT596 to treat B-cell lymphoma and CLL, FT538 to treat AML and multiple myeloma, FT576 to treat multiple myeloma, FT819 to treat B-cell malignancies, and FT-ONO1 to treat hematologic malignancies; and FT500, FT516, and FT-ONO2 for the treatment of advanced solid tumors.
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7 Stocks That Will Help You Forget About the Fed
Normally when the Federal Reserve (i.e. the Fed) makes an announcement, the market reacts predictably. That’s due, in large part, to the nature of what the Fed normally announces. Will interest rates go up, down, or remain unchanged? And for their part, the markets have a pretty good idea what the Fed will do before they do it.
But the Fed’s announcement of August 26 was a little different. They talked briefly about interest rates (they’re staying really low for a long time). But they were more concerned about inflation. Well, the Fed is always concerned about inflation, but this time they really mean it. Basic economics says that low-interest rates should spur inflation.
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View the “7 Stocks That Will Help You Forget About the Fed”.
Published at Tue, 02 Feb 2021 07:30:00 +0000