Fate Therapeutics - FATE Stock Forecast, Price & News

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. The company has a collaboration and option agreement with Ono Pharmaceutical Co. Ltd. for the development and commercialization of two off-the-shelf iPSC-derived CAR T-cell product candidates; strategic research collaboration and license agreement with Juno Therapeutics, Inc. to screen for and identify small molecule modulators that enhance the therapeutic properties of genetically-engineered T-cell immunotherapies; and a collaboration and option agreement with Janssen Biotech, Inc. Fate Therapeutics, Inc. was incorporated in 2007 and is headquartered in San Diego, California.

Fate Therapeutics Stock Up 2.7 %

Shares of FATE traded up $0.87 during mid-day trading on Friday, hitting $33.42. The stock had a trading volume of 1,159,557 shares, compared to its average volume of 1,198,888. The company has a market cap of $3.24 billion, a PE ratio of -12.66 and a beta of 1.62. The company's fifty day simple moving average is $26.91 and its two-hundred day simple moving average is $31.36. Fate Therapeutics has a fifty-two week low of $17.10 and a fifty-two week high of $97.43.

Fate Therapeutics (NASDAQ:FATE - Get Rating) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.10. The company had revenue of $18.40 million during the quarter, compared to analyst estimates of $9.01 million. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. The business's revenue was up 65.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.48) EPS. Equities analysts expect that Fate Therapeutics will post -3.4 earnings per share for the current year.

Analysts Set New Price Targets

FATE has been the topic of several analyst reports. Robert W. Baird initiated coverage on Fate Therapeutics in a report on Thursday, June 2nd. They set a "neutral" rating and a $28.00 target price on the stock. Needham & Company LLC started coverage on Fate Therapeutics in a report on Thursday, July 28th. They set a "hold" rating on the stock. BMO Capital Markets upgraded Fate Therapeutics from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $50.00 to $47.00 in a research note on Monday, July 11th. Oppenheimer lowered their price objective on Fate Therapeutics from $135.00 to $90.00 in a research note on Thursday. Finally, Truist Financial lowered their price objective on Fate Therapeutics from $125.00 to $75.00 in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Fate Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.42.

Insider Transactions at Fate Therapeutics

In related news, Director John Mendlein sold 1,364 shares of the firm's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $22.79, for a total value of $31,085.56. Following the sale, the director now owns 158,091 shares of the company's stock, valued at approximately $3,602,893.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Mark Plavsic sold 3,719 shares of the firm's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total value of $91,524.59. Following the sale, the insider now owns 127,123 shares of the company's stock, valued at approximately $3,128,497.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Mendlein sold 1,364 shares of the firm's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $22.79, for a total value of $31,085.56. Following the completion of the sale, the director now directly owns 158,091 shares in the company, valued at approximately $3,602,893.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,082 shares of company stock worth $1,646,106. 18.58% of the stock is currently owned by corporate insiders.