Fate Therapeutics (NASDAQ:FATE) Downgraded by StockNews.com to “Sell”

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

Several other analysts have also recently commented on FATE. Stifel Nicolaus decreased their price target on shares of Fate Therapeutics from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, March 6th. 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 research report on Thursday, March 6th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating 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 given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Fate Therapeutics Stock Up 5.2 %

NASDAQ FATE opened at $1.01 on Tuesday. Fate Therapeutics has a twelve month low of $0.87 and a twelve month high of $7.98. The business has a 50-day moving average price of $1.32 and a 200-day moving average price of $2.30. The firm has a market cap of $115.74 million, a price-to-earnings ratio of -0.61 and a beta of 2.26.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of FATE. Vestal Point Capital LP grew its position 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 during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Fate Therapeutics by 154.2% during the fourth quarter. Squarepoint Ops LLC now owns 34,295 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 20,805 shares during the period. Tang Capital Management LLC grew its holdings in shares of 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 worth $3,062,000 after purchasing an additional 1,155,954 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in Fate Therapeutics during the 4th quarter valued at about $655,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fate Therapeutics in the 4th quarter valued at about $55,000. 97.54% of the stock is currently owned by hedge funds and other 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.