Fate Therapeutics (NASDAQ:FATE) Coverage Initiated by Analysts at CIBC

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CIBC began coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research report released on Friday morning, FirstToMarketsRatingsTable reports. The brokerage issued an outperform rating and a $27.00 target price on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on FATE. Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the stock a buy rating in a research report on Friday, May 24th. BidaskClub cut shares of Waterstone Financial from a hold rating to a sell rating in a research note on Friday, June 21st. Piper Jaffray Companies cut shares of Pioneer Energy Services from an overweight rating to a neutral rating in a research note on Thursday, June 27th. Mizuho initiated coverage on shares of CytomX Therapeutics in a research note on Wednesday, June 12th. They set a buy rating and a $16.00 price objective for the company. Finally, Zacks Investment Research lowered shares of ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $22.77.

Fate Therapeutics stock opened at $22.14 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.40 and a quick ratio of 6.40. The firm has a market cap of $1.39 billion, a PE ratio of -18.61 and a beta of 1.65. Fate Therapeutics has a 1-year low of $8.64 and a 1-year high of $22.61. The stock has a fifty day simple moving average of $19.65.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $2.63 million during the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The firm’s revenue for the quarter was up 156.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) EPS. As a group, equities research analysts forecast that Fate Therapeutics will post -1.29 EPS for the current year.

In other Fate Therapeutics news, CEO J Scott Wolchko sold 8,541 shares of Fate Therapeutics stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $16.17, for a total value of $138,107.97. Following the transaction, the chief executive officer now owns 375,973 shares in the company, valued at approximately $6,079,483.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel D. Shoemaker sold 12,500 shares of Fate Therapeutics stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $20.21, for a total transaction of $252,625.00. Following the completion of the transaction, the insider now owns 148,091 shares in the company, valued at approximately $2,992,919.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,376 shares of company stock worth $668,402. 23.19% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in 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 buying an additional 1,562,252 shares during the period. Northern Trust Corp increased its position in shares of Fate Therapeutics by 17.8% in the 4th quarter. Northern Trust Corp now owns 735,512 shares of the biopharmaceutical company’s stock worth $9,437,000 after purchasing an additional 110,936 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fate Therapeutics by 36.3% in the 4th quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after purchasing an additional 186,927 shares during the last quarter. American International Group Inc. increased its position in shares of Fate Therapeutics by 19.9% in the 4th quarter. American International Group Inc. now owns 39,933 shares of the biopharmaceutical company’s stock worth $512,000 after purchasing an additional 6,616 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Fate Therapeutics by 23.4% in the 4th quarter. Two Sigma Advisers LP now owns 356,700 shares of the biopharmaceutical company’s stock worth $4,576,000 after purchasing an additional 67,700 shares during the last quarter. Institutional investors own 93.28% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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