Fate Therapeutics (NASDAQ:FATE) had its target price boosted by research analysts at Wedbush from $19.00 to $21.00 in a research report issued on Monday. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 36.45% from the stock’s current price.
Several other equities analysts have also recently weighed in on FATE. Jefferies Financial Group initiated coverage on Fate Therapeutics in a report on Monday, November 5th. They set a “buy” rating and a $17.00 price objective on the stock. BidaskClub upgraded Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 5th. Stephens cut Fate Therapeutics from an “overweight” rating to an “equal” rating in a report on Thursday, January 3rd. Finally, Zacks Investment Research cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.86.
Shares of NASDAQ:FATE traded up $1.32 during trading on Monday, hitting $15.39. 18,943 shares of the company’s stock traded hands, compared to its average volume of 584,804. Fate Therapeutics has a 52 week low of $7.60 and a 52 week high of $17.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.44 and a quick ratio of 9.44. The stock has a market capitalization of $908.92 million, a PE ratio of -15.09 and a beta of 2.06.
In related news, Director Amir Nashat sold 82,528 shares of Fate Therapeutics stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total value of $1,379,042.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the sale, the general counsel now directly owns 47,426 shares in the company, valued at approximately $758,816. The disclosure for this sale can be found here. In the last three months, insiders sold 469,026 shares of company stock worth $6,928,487. 9.89% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Redmile Group LLC boosted its stake in shares of Fate Therapeutics by 58.9% during the 3rd quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock worth $172,289,000 after acquiring an additional 3,920,401 shares during the period. BlackRock Inc. boosted its stake in shares of Fate Therapeutics by 45.0% during the 4th quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after acquiring an additional 1,562,252 shares during the period. Partner Fund Management L.P. bought a new position in shares of Fate Therapeutics during the 3rd quarter worth approximately $24,455,000. FMR LLC boosted its stake in shares of Fate Therapeutics by 15.3% during the 3rd quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock worth $124,413,000 after acquiring an additional 1,011,596 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Fate Therapeutics by 150.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,318,860 shares of the biopharmaceutical company’s stock worth $16,921,000 after acquiring an additional 791,540 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.
About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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