According to Zacks, “Fate Therapeutics, Inc. is a biopharmaceutical company. The company focused on the discovery and development of adult stem cell modulators to treat hematologic malignancies, lysosomal storage disorders and muscular dystrophies. Fate Therapeutics, Inc. is headquartered in San Diego, California. “
Other analysts have also recently issued reports about the stock. Guggenheim reiterated a hold rating on shares of Burlington Stores in a research note on Thursday, May 30th. Roth Capital lowered their price objective on shares of Diamondback Energy from $166.00 to $150.00 and set a buy rating on the stock in a research report on Friday, June 7th. Citigroup set a $27.00 price objective on shares of PhaseBio Pharmaceuticals and gave the company a buy rating in a research report on Friday, May 24th. Leerink Swann assumed coverage on shares of Affimed in a research report on Thursday, March 28th. They set an outperform rating and a $4.17 price objective on the stock. Finally, Piper Jaffray Companies cut shares of Pioneer Energy Services from an overweight rating to a neutral rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fate Therapeutics has a consensus rating of Buy and an average price target of $22.77.
NASDAQ FATE opened at $21.54 on Wednesday. Fate Therapeutics has a 1 year low of $8.64 and a 1 year high of $22.61. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.33 billion, a PE ratio of -18.10 and a beta of 1.65. The business has a 50 day moving average price of $19.49.
Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The firm had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same quarter in the prior year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 156.3% compared to the same quarter last year. On average, analysts forecast that Fate Therapeutics will post -1.29 EPS for the current fiscal year.
In other news, insider J Scott Wolchko sold 14,335 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $19.37, for a total transaction of $277,668.95. Following the sale, the insider now owns 389,216 shares in the company, valued at approximately $7,539,113.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel D. Shoemaker sold 12,500 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.21, for a total transaction of $252,625.00. Following the transaction, the insider now directly owns 148,091 shares in the company, valued at approximately $2,992,919.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,376 shares of company stock worth $668,402. Corporate insiders own 23.19% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its holdings in Fate Therapeutics by 108.6% during the 1st quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock worth $8,557,000 after acquiring an additional 253,540 shares in the last quarter. Federated Investors Inc. PA grew its position in Fate Therapeutics by 31.2% in the 1st quarter. Federated Investors Inc. PA now owns 458,869 shares of the biopharmaceutical company’s stock valued at $8,062,000 after acquiring an additional 109,118 shares in the last quarter. New York State Common Retirement Fund grew its position in Fate Therapeutics by 76.1% in the 1st quarter. New York State Common Retirement Fund now owns 92,290 shares of the biopharmaceutical company’s stock valued at $1,622,000 after acquiring an additional 39,890 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Fate Therapeutics by 49.7% during the first quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after buying an additional 655,314 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Fate Therapeutics by 1.1% during the first quarter. Rhumbline Advisers now owns 80,220 shares of the biopharmaceutical company’s stock worth $1,409,000 after buying an additional 841 shares in the last quarter. 93.28% of the stock is currently owned by institutional investors.
About Fate Therapeutics
Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.
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