Fate Therapeutics (NASDAQ:FATE) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Fate Therapeutics has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The company's shares have a current price of $0.92 and a consensus price target of $3.83, indicating potential improvement.
• Fate Therapeutics reported a quarterly EPS of ($0.32), exceeding analysts' expectations of ($0.39) by $0.07.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

FATE has been the subject of a number of other research reports. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Robert W. Baird decreased their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. Finally, Barclays decreased their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.83.

Fate Therapeutics Trading Down 6.0%

Shares of Fate Therapeutics stock opened at $0.92 on Friday. The company has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.15. Fate Therapeutics has a 12-month low of $0.66 and a 12-month high of $4.20. The stock has a market cap of $105.59 million, a price-to-earnings ratio of -0.62 and a beta of 2.24.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. The business had revenue of $1.63 million during the quarter, compared to analysts' expectations of $1.18 million. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. On average, analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several hedge funds have recently made changes to their positions in FATE. Tang Capital Management LLC lifted its stake in shares of Fate Therapeutics by 165.1% in the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company's stock worth $3,062,000 after acquiring an additional 1,155,954 shares during the period. Walleye Capital LLC lifted its stake in shares of Fate Therapeutics by 1,502.0% in the fourth quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company's stock valued at $1,787,000 after purchasing an additional 1,015,483 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Fate Therapeutics by 67.8% in the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company's stock valued at $1,952,000 after purchasing an additional 999,773 shares during the period. Monaco Asset Management SAM lifted its stake in shares of Fate Therapeutics by 250.9% in the first quarter. Monaco Asset Management SAM now owns 1,149,708 shares of the biopharmaceutical company's stock valued at $908,000 after purchasing an additional 822,037 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Fate Therapeutics by 4,953.6% in the fourth quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company's stock valued at $1,358,000 after purchasing an additional 806,846 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

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.

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