Today, Fate Therapeutics Inc. (FATE) Given New $7.00 Price Target at Wedbush

Today, Fate Therapeutics Inc. (FATE) Given New $7.00 Price Target at Wedbush

Fate Therapeutics Inc. (NASDAQ:FATE) had its target price lowered by equities researchers at Wedbush from $8.00 to $7.00 in a research note issued on Tuesday. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price objective would suggest a potential upside of 120.13% from the stock’s previous close.

Several other equities analysts also recently weighed in on FATE. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Monday, July 11th. HC Wainwright started coverage on shares of Fate Therapeutics in a research note on Thursday, July 28th. They issued a “buy” rating and a $9.00 price target on the stock. BMO Capital Markets set a $4.00 price target on shares of Fate Therapeutics and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Roth Capital started coverage on shares of Fate Therapeutics in a research note on Thursday, September 22nd. They issued a “buy” rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $5.79.

Fate Therapeutics (NASDAQ:FATE) traded down 3.34% during midday trading on Tuesday, reaching $3.18. 287,500 shares of the company’s stock traded hands. Fate Therapeutics has a 1-year low of $1.46 and a 1-year high of $4.67. The firm’s 50-day moving average is $2.50 and its 200-day moving average is $2.26. The company’s market capitalization is $108.59 million.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. Fate Therapeutics had a negative net margin of 740.69% and a negative return on equity of 112.48%. Analysts forecast that Fate Therapeutics will post ($1.14) earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in FATE. Bank of New York Mellon Corp boosted its stake in Fate Therapeutics by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 68,444 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 4,941 shares during the last quarter. Lombard Odier Asset Management USA Corp boosted its stake in Fate Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 256,426 shares of the biopharmaceutical company’s stock valued at $436,000 after buying an additional 7,052 shares during the last quarter. Northern Trust Corp boosted its stake in Fate Therapeutics by 51.3% in the third quarter. Northern Trust Corp now owns 38,625 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 13,094 shares during the last quarter. Redmile Group LLC boosted its stake in Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock valued at $2,554,000 after buying an additional 15,200 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 15,701 shares during the last quarter. Hedge funds and other institutional investors own 41.00% of the company’s stock.

Fate Therapeutics Company Profile

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