Fate Therapeutics (NASDAQ:FATE) Downgraded by ValuEngine

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Fate Therapeutics (NASDAQ:FATE) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, December 10th, ValuEngine reports.

A number of other analysts have also recently issued reports on FATE. Mizuho cut Fate Therapeutics to a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets dropped their price objective on Fate Therapeutics from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, December 9th. Piper Jaffray Companies dropped their price objective on Fate Therapeutics from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BidaskClub cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Finally, SunTrust Banks started coverage on Fate Therapeutics in a report on Tuesday, November 12th. They set a “buy” rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $25.00.

NASDAQ:FATE traded down $0.10 during trading on Tuesday, reaching $19.47. The company’s stock had a trading volume of 777,398 shares, compared to its average volume of 1,359,104. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -16.36 and a beta of 1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.53 and a current ratio of 7.53. The firm has a 50 day moving average of $17.02 and a 200-day moving average of $17.69. Fate Therapeutics has a 12 month low of $12.59 and a 12 month high of $22.82.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Fate Therapeutics had a negative net margin of 900.24% and a negative return on equity of 48.94%. The firm had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $1.75 million. During the same period in the prior year, the company earned ($0.31) EPS. The firm’s quarterly revenue was up 136.7% on a year-over-year basis. Equities research analysts forecast that Fate Therapeutics will post -1.46 earnings per share for the current fiscal year.

In other news, General Counsel Cindy Tahl sold 10,200 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.24, for a total transaction of $145,248.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bahram Valamehr sold 6,200 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.18, for a total value of $87,916.00. The disclosure for this sale can be found here. Insiders sold a total of 62,417 shares of company stock worth $1,040,899 over the last 90 days. Corporate insiders own 23.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Fate Therapeutics by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 77,815 shares of the biopharmaceutical company’s stock valued at $1,208,000 after purchasing an additional 721 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Fate Therapeutics by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 81,518 shares of the biopharmaceutical company’s stock valued at $1,266,000 after purchasing an additional 974 shares during the last quarter. TD Asset Management Inc. grew its position in Fate Therapeutics by 4.2% during the 2nd quarter. TD Asset Management Inc. now owns 41,909 shares of the biopharmaceutical company’s stock worth $851,000 after acquiring an additional 1,700 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Fate Therapeutics by 72.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,948 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,086 shares during the last quarter. Finally, Swiss National Bank grew its position in Fate Therapeutics by 2.2% during the 2nd quarter. Swiss National Bank now owns 96,100 shares of the biopharmaceutical company’s stock worth $1,951,000 after acquiring an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 97.60% of the company’s stock.

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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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