Fate Therapeutics (NASDAQ:FATE) Downgraded by Zacks Investment Research

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Fate Therapeutics (NASDAQ:FATE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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 the stock. Oppenheimer reissued a “buy” rating and set a $27.00 target price on shares of Fate Therapeutics in a research report on Monday, December 9th. BidaskClub raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, February 15th. Mizuho raised their target price on shares of Fate Therapeutics from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 30th. They noted that the move was a valuation call. Wells Fargo & Co reissued an “overweight” rating and set a $34.00 target price (up previously from $24.00) on shares of Fate Therapeutics in a research report on Wednesday, February 12th. Finally, Wedbush raised their target price on shares of Fate Therapeutics from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.82.

NASDAQ FATE traded up $1.58 during trading on Friday, reaching $30.94. 874,939 shares of the company’s stock traded hands, compared to its average volume of 873,847. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.53 and a quick ratio of 7.53. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -23.62 and a beta of 1.95. The company’s 50 day simple moving average is $25.18 and its two-hundred day simple moving average is $18.76. Fate Therapeutics has a 12-month low of $12.59 and a 12-month high of $31.00.

In other news, CEO J Scott Wolchko sold 25,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.17, for a total value of $504,250.00. Following the sale, the chief executive officer now directly owns 378,969 shares in the company, valued at approximately $7,643,804.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bahram Valamehr sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $20.69, for a total transaction of $117,933.00. Following the completion of the sale, the insider now owns 91,758 shares in the company, valued at $1,898,473.02. The disclosure for this sale can be found here. Insiders sold a total of 55,700 shares of company stock worth $1,258,433 over the last 90 days. Company insiders own 23.19% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC bought a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $39,000. Meeder Asset Management Inc. boosted its holdings in shares of Fate Therapeutics by 46.1% in the 4th quarter. Meeder Asset Management Inc. now owns 2,029 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 640 shares in the last quarter. Quantbot Technologies LP boosted its stake in Fate Therapeutics by 1,133.3% in the 4th quarter. Quantbot Technologies LP now owns 3,700 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 3,400 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Fate Therapeutics in the 4th quarter worth approximately $83,000. Finally, Bank of Montreal Can boosted its stake in Fate Therapeutics by 66.8% in the 4th quarter. Bank of Montreal Can now owns 7,656 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 3,067 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

Fate Therapeutics Company Profile

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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