Fate Therapeutics Inc (NASDAQ:FATE) traded up 0% during trading on Thursday . The stock traded as high as $10.86 and last traded at $10.59. 1,492,200 shares changed hands during mid-day trading, an increase of 128% from the average session volume of 655,014 shares. The stock had previously closed at $10.59.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Wedbush restated an “outperform” rating and set a $7.00 price target (down previously from $10.00) on shares of Fate Therapeutics in a research note on Thursday, January 18th. BMO Capital Markets restated a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday, November 2nd. Finally, BidaskClub upgraded shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.71.
The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 7.21. The stock has a market cap of $549.84, a P/E ratio of -11.35 and a beta of 2.00.
Several hedge funds have recently modified their holdings of FATE. New York State Common Retirement Fund purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $131,000. Raymond James & Associates purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $141,000. Hochman Cole Investment Advisors Inc. purchased a new position in Fate Therapeutics in the 3rd quarter valued at approximately $158,000. The Manufacturers Life Insurance Company grew its stake in Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 12,686 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $214,000. Institutional investors own 57.60% of the company’s stock.
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About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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