Today: Fate Today:rapeutics Inc. (FATE) Downgraded by Zacks Investment Research

Today: Fate Today:rapeutics Inc. (FATE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Fate Therapeutics Inc. (NASDAQ:FATE) from a buy rating to a hold rating in a research note released on Tuesday morning.

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. “

A number of other research analysts also recently commented on FATE. Leerink Swann reaffirmed an outperform rating and set a $4.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, June 21st. BMO Capital Markets reaffirmed an outperform rating and set a $4.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, June 21st. HC Wainwright initiated coverage on shares of Fate Therapeutics in a research report on Thursday, July 28th. They set a buy rating and a $9.00 price objective on the stock. Finally, Roth Capital initiated coverage on shares of Fate Therapeutics in a research report on Thursday, September 22nd. They set a buy rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $6.29.

Shares of Fate Therapeutics (NASDAQ:FATE) opened at 2.55 on Tuesday. Fate Therapeutics has a 12-month low of $1.46 and a 12-month high of $5.02. The firm’s market capitalization is $73.68 million. The company’s 50-day moving average is $2.87 and its 200-day moving average is $2.17.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.03. The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.02 million. Fate Therapeutics had a negative net margin of 699.10% and a negative return on equity of 90.94%. On average, equities analysts forecast that Fate Therapeutics will post ($1.13) earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of FATE. 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 worth $2,554,000 after buying an additional 15,200 shares during the period. Vanguard Group Inc. boosted its stake in Fate Therapeutics by 3.5% in the second quarter. Vanguard Group Inc. now owns 657,573 shares of the biopharmaceutical company’s stock worth $1,118,000 after buying an additional 22,098 shares during the period. Board of Trustees of The Leland Stanford Junior University purchased a new stake in shares of Fate Therapeutics during the second quarter worth $495,000. Lombard Odier Asset Management USA Corp boosted its stake in shares of 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 worth $436,000 after buying an additional 7,052 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Fate Therapeutics by 151.6% in the first quarter. Renaissance Technologies LLC now owns 222,700 shares of the biopharmaceutical company’s stock worth $401,000 after buying an additional 134,200 shares during the last quarter. Hedge funds and other institutional investors own 41.22% of the company’s stock.

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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