Fate Therapeutics (NASDAQ:FATE) Rating Reiterated by Cantor Fitzgerald

Fate Therapeutics (NASDAQ:FATEGet Rating)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Fate Therapeutics’ FY2022 earnings at ($3.15) EPS and FY2023 earnings at ($3.95) EPS.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets upgraded Fate Therapeutics from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $50.00 to $47.00 in a report on Monday, July 11th. Needham & Company LLC assumed coverage on Fate Therapeutics in a report on Thursday, July 28th. They set a “hold” rating on the stock. Wells Fargo & Company restated an “overweight” rating and set a $90.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 18th. Robert W. Baird assumed coverage on Fate Therapeutics in a report on Thursday, June 2nd. They set a “neutral” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Fate Therapeutics from $45.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, September 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Fate Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $74.46.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $22.47 on Wednesday. The stock has a market cap of $2.18 billion, a PE ratio of -8.51 and a beta of 1.68. Fate Therapeutics has a one year low of $17.10 and a one year high of $70.29. The stock has a fifty day moving average of $29.57 and a 200 day moving average of $29.53.

Fate Therapeutics (NASDAQ:FATEGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.07. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. The firm had revenue of $18.55 million during the quarter, compared to analyst estimates of $13.42 million. As a group, sell-side analysts predict that Fate Therapeutics will post -3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fate Therapeutics news, insider Bahram Valamehr sold 17,158 shares of Fate Therapeutics stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $30.23, for a total transaction of $518,686.34. Following the completion of the sale, the insider now owns 179,834 shares of the company’s stock, valued at approximately $5,436,381.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fate Therapeutics news, CEO J Scott Wolchko sold 30,000 shares of Fate Therapeutics stock in a transaction dated Thursday, July 21st. The stock was 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 owns 431,546 shares in the company, valued at approximately $14,189,232.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bahram Valamehr sold 17,158 shares of Fate Therapeutics stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $30.23, for a total value of $518,686.34. Following the transaction, the insider now owns 179,834 shares of the company’s stock, valued at approximately $5,436,381.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,012 shares of company stock valued at $1,749,685. 17.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FATE. Capital World Investors purchased a new position in shares of Fate Therapeutics in the 4th quarter valued at about $190,686,000. State Street Corp increased its stake in Fate Therapeutics by 51.8% during the 2nd quarter. State Street Corp now owns 5,270,135 shares of the biopharmaceutical company’s stock worth $130,594,000 after buying an additional 1,797,703 shares in the last quarter. Deep Track Capital LP increased its stake in Fate Therapeutics by 378.4% during the 1st quarter. Deep Track Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $77,540,000 after buying an additional 1,581,963 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Fate Therapeutics by 378.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,084,670 shares of the biopharmaceutical company’s stock worth $26,879,000 after buying an additional 858,193 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Fate Therapeutics by 633.3% during the 4th quarter. Invesco Ltd. now owns 883,279 shares of the biopharmaceutical company’s stock worth $51,680,000 after buying an additional 762,832 shares in the last quarter.

About Fate Therapeutics

(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.

Further Reading

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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