Fate Therapeutics (NASDAQ:FATE) Stock Rating Lowered by Wall Street Zen

Fate Therapeutics (NASDAQ:FATE) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

FATE has been the subject of several other reports. Wedbush reissued an “outperform” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fate Therapeutics in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Fate Therapeutics from $3.50 to $3.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $8.00 price objective (up from $6.00) on shares of Fate Therapeutics in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.80.

Fate Therapeutics Stock Performance

Shares of NASDAQ FATE opened at $1.83 on Friday. Fate Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $3.23. The business’s 50 day moving average price is $2.24 and its 200-day moving average price is $1.97. The company has a market cap of $219.87 million, a price-to-earnings ratio of -1.78 and a beta of 2.65.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. Fate Therapeutics had a negative return on equity of 65.08% and a negative net margin of 1,941.09%. The business had revenue of $1.35 million for the quarter, compared to the consensus estimate of $1.14 million. Sell-side analysts predict that Fate Therapeutics will post -1.03 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in FATE. Callan Family Office LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $29,000. Bank of New York Mellon Corp purchased a new position in Fate Therapeutics in the 2nd quarter worth $31,000. HB Wealth Management LLC bought a new position in Fate Therapeutics in the second quarter worth about $31,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Fate Therapeutics during the second quarter valued at approximately $32,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Fate Therapeutics during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and autoimmune diseases. The company uses induced pluripotent stem cell (iPSC) technology to create standardized, potentially off-the-shelf immune cell products, including natural killer (NK) cells and T cells.

Its research and development activities include iPSC-derived cell therapies engineered to recognize and attack cancer cells. Fate’s pipeline has included candidates such as FT819, an iPSC-derived, CD19-targeted CAR T-cell therapy, along with other investigational NK-cell and T-cell programs.