Fate Therapeutics (NASDAQ:FATE) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Fate Therapeutics (NASDAQ:FATE) from a sell rating to a hold rating in a research report released on Monday morning.

A number of other equities analysts have also commented on FATE. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.17.

Fate Therapeutics Stock Down 8.0 %

NASDAQ FATE opened at $1.03 on Monday. The company’s 50-day simple moving average is $1.42 and its 200 day simple moving average is $2.43. The stock has a market cap of $117.31 million, a P/E ratio of -0.62 and a beta of 2.02. Fate Therapeutics has a twelve month low of $0.98 and a twelve month high of $8.83.

Insider Transactions at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the transaction, the director now directly owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Tang Capital Management LLC raised its stake in Fate Therapeutics by 165.1% in the fourth quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock valued at $3,062,000 after buying an additional 1,155,954 shares during the period. Walleye Capital LLC increased its position in Fate Therapeutics by 1,502.0% during the fourth quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company’s stock worth $1,787,000 after acquiring an additional 1,015,483 shares during the period. Cerity Partners LLC raised its position in shares of Fate Therapeutics by 4,953.6% in the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company’s stock valued at $1,358,000 after buying an additional 806,846 shares in the last quarter. Vestal Point Capital LP raised its holdings in Fate Therapeutics by 46.3% in the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after acquiring an additional 780,000 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Fate Therapeutics during the fourth quarter worth about $846,000. 97.54% of the stock is currently owned by institutional investors.

About Fate Therapeutics

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.