Fate Therapeutics (NASDAQ:FATE) Receives “Outperform” Rating from Wedbush

Fate Therapeutics (NASDAQ:FATE)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Friday,Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price points to a potential upside of 177.78% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fate Therapeutics in a research report on Friday, August 7th. Wells Fargo & Company set a $3.50 target price on shares of Fate Therapeutics in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.38.

Fate Therapeutics Stock Performance

FATE stock opened at $2.52 on Friday. Fate Therapeutics has a one year low of $0.93 and a one year high of $3.23. The firm has a market cap of $293.73 million, a PE ratio of -2.31 and a beta of 2.52. The firm’s 50 day moving average price is $2.49 and its 200-day moving average price is $1.86.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%.The company had revenue of $2.08 million during the quarter, compared to analysts’ expectations of $1.37 million. Equities research analysts predict that Fate Therapeutics will post -1.04 EPS for the current fiscal year.

Insider Activity at Fate Therapeutics

In other news, insider Cindy Tahl sold 25,590 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the sale, the insider owned 628,155 shares of the company’s stock, valued at approximately $1,180,931.40. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Callan Family Office LLC acquired a new position in Fate Therapeutics during the 2nd quarter worth $29,000. Bank of New York Mellon Corp acquired a new stake in Fate Therapeutics in the 2nd quarter valued at about $31,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter valued at about $32,000. Russell Investments Group Ltd. boosted its stake in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Fate Therapeutics during the second quarter worth about $41,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development of first?in?class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off?the?shelf natural killer (NK) and T?cell products designed to overcome limitations of donor?derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC?derived cell therapy candidates in active clinical development.