Oppenheimer Lowers Fate Therapeutics (NASDAQ:FATE) Price Target to $90.00

Fate Therapeutics (NASDAQ:FATEGet Rating) had its target price decreased by investment analysts at Oppenheimer from $135.00 to $90.00 in a research note issued to investors on Thursday, The Fly reports. Oppenheimer’s target price would indicate a potential upside of 169.30% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Robert W. Baird started coverage on shares of Fate Therapeutics in a research note on Thursday, June 2nd. They issued a “neutral” rating and a $28.00 price objective on the stock. Piper Sandler decreased their target price on shares of Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. BMO Capital Markets raised shares of Fate Therapeutics from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $50.00 to $47.00 in a research report on Monday, July 11th. Needham & Company LLC started coverage on shares of Fate Therapeutics in a research report on Thursday, July 28th. They issued a “hold” rating for the company. Finally, Truist Financial decreased their target price on shares of Fate Therapeutics from $125.00 to $75.00 in a research report on Wednesday, April 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.42.

Fate Therapeutics Trading Up 2.7 %

Fate Therapeutics stock opened at $33.42 on Thursday. The firm’s 50 day moving average price is $26.91 and its two-hundred day moving average price is $31.46. Fate Therapeutics has a twelve month low of $17.10 and a twelve month high of $97.43.

Fate Therapeutics (NASDAQ:FATEGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.10. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $9.01 million. Fate Therapeutics had a negative net margin of 371.73% and a negative return on equity of 40.37%. The company’s revenue for the quarter was up 65.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.48) EPS. As a group, sell-side analysts expect that Fate Therapeutics will post -3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO J Scott Wolchko sold 30,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total transaction of $986,400.00. Following the completion of the transaction, the chief executive officer now directly owns 431,546 shares in the company, valued at approximately $14,189,232.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO J Scott Wolchko sold 30,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $32.88, for a total transaction of $986,400.00. Following the completion of the transaction, the chief executive officer now directly owns 431,546 shares in the company, valued at approximately $14,189,232.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bahram Valamehr sold 17,158 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $30.23, for a total transaction of $518,686.34. Following the transaction, the insider now owns 179,834 shares of the company’s stock, valued at $5,436,381.82. The disclosure for this sale can be found here. In the last three months, insiders sold 53,082 shares of company stock valued at $1,646,106. Company insiders own 18.58% of the company’s stock.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently bought and sold shares of the stock. First Republic Investment Management Inc. raised its stake in Fate Therapeutics by 1.6% during the 4th quarter. First Republic Investment Management Inc. now owns 18,565 shares of the biopharmaceutical company’s stock valued at $1,086,000 after purchasing an additional 291 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Fate Therapeutics by 1.7% in the 4th quarter. ProShare Advisors LLC now owns 33,208 shares of the biopharmaceutical company’s stock valued at $1,943,000 after buying an additional 562 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Fate Therapeutics by 3.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 17,581 shares of the biopharmaceutical company’s stock valued at $436,000 after buying an additional 601 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Fate Therapeutics by 2.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 25,850 shares of the biopharmaceutical company’s stock valued at $1,526,000 after buying an additional 700 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Fate Therapeutics by 0.9% in the 1st quarter. Rhumbline Advisers now owns 89,382 shares of the biopharmaceutical company’s stock valued at $3,465,000 after buying an additional 758 shares in the last quarter.

Fate Therapeutics Company Profile

(Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

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