Stifel Nicolaus Lowers Fate Therapeutics (NASDAQ:FATE) Price Target to $3.00

Fate Therapeutics (NASDAQ:FATE) had its price target dropped by stock analysts at Stifel Nicolaus from $5.00 to $3.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 197.03% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.50.

Fate Therapeutics Price Performance

NASDAQ FATE opened at $1.01 on Thursday. Fate Therapeutics has a 1-year low of $0.88 and a 1-year high of $8.74. The business’s fifty day moving average price is $1.38 and its 200-day moving average price is $2.39. The stock has a market capitalization of $115.03 million, a price-to-earnings ratio of -0.61 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million. Equities research analysts anticipate that Fate Therapeutics will post -1.63 EPS for the current year.

Insider Transactions at Fate Therapeutics

In related news, Director Redmile Group, Llc bought 397,964 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the purchase, the director now directly owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This trade 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 link. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Graham Capital Management L.P. acquired a new position in shares of Fate Therapeutics during the 4th quarter worth about $37,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth approximately $40,000. Brevan Howard Capital Management LP acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth approximately $41,000. FPC Investment Advisory Inc. acquired a new stake in Fate Therapeutics during the 4th quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fate Therapeutics during the 4th quarter valued at $55,000. 97.54% of the stock is owned by institutional investors and hedge funds.

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.