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

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

FATE has been the subject of a number of other research reports. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.17.

Fate Therapeutics Stock Performance

FATE stock opened at $1.03 on Monday. The company has a market capitalization of $117.31 million, a P/E ratio of -0.62 and a beta of 2.02. Fate Therapeutics has a 52-week low of $0.98 and a 52-week high of $8.83. The company has a fifty day moving average price of $1.42 and a 200-day moving average price of $2.43.

Insiders Place Their Bets

In related news, Director Redmile Group, Llc bought 397,964 shares of Fate Therapeutics stock in a transaction dated 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 transaction, the director now directly owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Trading of Fate Therapeutics

Hedge funds have recently made changes to their positions in the company. Privium Fund Management B.V. bought a new stake in shares of Fate Therapeutics during the 3rd quarter valued at $175,000. Thrivent Financial for Lutherans boosted its stake in Fate Therapeutics by 24.7% in the third quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company’s stock worth $439,000 after buying an additional 24,804 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Fate Therapeutics in the 3rd quarter valued at $108,000. FMR LLC grew its stake in shares of Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock valued at $798,000 after buying an additional 46,892 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after acquiring an additional 161,776 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

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.