Fate Therapeutics (NASDAQ:FATE) Rating Lowered to “Sell” at StockNews.com

Fate Therapeutics (NASDAQ:FATE) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus cut their target price on Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, March 6th. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.50.

Fate Therapeutics Trading Down 8.2 %

Shares of FATE stock opened at $0.93 on Tuesday. Fate Therapeutics has a 12-month low of $0.88 and a 12-month high of $8.44. The stock’s 50-day moving average price is $1.36 and its 200-day moving average price is $2.35. The stock has a market capitalization of $106.21 million, a price-to-earnings ratio of -0.56 and a beta of 2.26.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.13. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $1.86 million for the quarter, compared to analysts’ expectations of $1.57 million. As a group, research analysts predict that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is owned by insiders.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in FATE. Graham Capital Management L.P. acquired a new stake in shares of Fate Therapeutics during the 4th quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $40,000. Brevan Howard Capital Management LP acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $41,000. FPC Investment Advisory Inc. acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fate Therapeutics in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.