StockNews.com Downgrades Fate Therapeutics (NASDAQ:FATE) to Sell

StockNews.com cut shares of Fate Therapeutics (NASDAQ:FATE) from a hold rating to a sell rating in a report published on Tuesday morning.

Several other research analysts also recently issued reports on the stock. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Wells Fargo & Company lowered their price target on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price objective on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.50.

Fate Therapeutics Stock Down 6.6 %

Shares of FATE opened at $0.94 on Tuesday. The firm has a fifty day simple moving average of $1.32 and a two-hundred day simple moving average of $2.30. Fate Therapeutics has a twelve month low of $0.87 and a twelve month high of $7.70. The stock has a market capitalization of $108.12 million, a P/E ratio of -0.57 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Sell-side analysts expect that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc purchased 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors have recently bought and sold shares of the business. Graham Capital Management L.P. purchased a new position in Fate Therapeutics in the fourth quarter valued at about $37,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $40,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $41,000. FPC Investment Advisory Inc. purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fate Therapeutics during the 4th quarter worth approximately $55,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.