Fate Therapeutics (NASDAQ:FATE) Trading Down 5%

Share on StockTwits

Fate Therapeutics Inc (NASDAQ:FATE)’s stock price fell 5% during trading on Friday . The stock traded as low as $21.34 and last traded at $21.37, 584,672 shares were traded during trading. A decline of 19% from the average session volume of 718,562 shares. The stock had previously closed at $22.50.

Several brokerages have recently commented on FATE. Guggenheim reissued a “hold” rating on shares of Burlington Stores in a research note on Thursday, May 30th. Citigroup set a $27.00 target price on PhaseBio Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 24th. Leerink Swann began coverage on Affimed in a research note on Thursday, March 28th. They issued an “outperform” rating and a $4.17 target price on the stock. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Finally, Piper Jaffray Companies lowered Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.77.

The firm has a market capitalization of $1.45 billion, a P/E ratio of -17.96 and a beta of 1.65. The company has a 50 day simple moving average of $19.85. The company has a current ratio of 6.40, a quick ratio of 6.40 and a debt-to-equity ratio of 0.26.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The business had revenue of $2.63 million for the quarter, compared to analysts’ expectations of $2.01 million. During the same period in the prior year, the company earned ($0.27) EPS. The company’s revenue for the quarter was up 156.3% compared to the same quarter last year. On average, research analysts predict that Fate Therapeutics Inc will post -1.3 earnings per share for the current year.

In other Fate Therapeutics news, insider J Scott Wolchko sold 14,335 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $19.37, for a total transaction of $277,668.95. Following the transaction, the insider now owns 389,216 shares of the company’s stock, valued at approximately $7,539,113.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel D. Shoemaker sold 12,500 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $20.21, for a total value of $252,625.00. Following the transaction, the insider now directly owns 148,091 shares in the company, valued at approximately $2,992,919.11. The disclosure for this sale can be found here. Corporate insiders own 23.19% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted 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 purchasing an additional 1,562,252 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Fate Therapeutics by 49.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after buying an additional 655,314 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Fate Therapeutics by 17.8% during the 4th quarter. Northern Trust Corp now owns 735,512 shares of the biopharmaceutical company’s stock worth $9,437,000 after buying an additional 110,936 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Fate Therapeutics by 36.3% during the 4th quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after buying an additional 186,927 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Fate Therapeutics by 269.0% during the 4th quarter. Millennium Management LLC now owns 587,640 shares of the biopharmaceutical company’s stock worth $7,539,000 after buying an additional 428,399 shares during the last quarter. 93.28% of the stock is currently owned by institutional investors.

About Fate Therapeutics (NASDAQ:FATE)

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.

Featured Article: New Google Finance Tool and Screening Stocks

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

JPMorgan Chase & Co. Increases AvalonBay Communities  Price Target to $224.00
JPMorgan Chase & Co. Increases AvalonBay Communities Price Target to $224.00
Brightsphere Investment Group  Lifted to “Hold” at Zacks Investment Research
Brightsphere Investment Group Lifted to “Hold” at Zacks Investment Research
PLDT  Rating Lowered to Hold at Zacks Investment Research
PLDT Rating Lowered to Hold at Zacks Investment Research
AtriCure  Stock Rating Lowered by Northland Securities
AtriCure Stock Rating Lowered by Northland Securities
Bradesco Corretora Reiterates “Neutral” Rating for Ternium
Bradesco Corretora Reiterates “Neutral” Rating for Ternium
Meridian Bioscience  Rating Lowered to Sell at ValuEngine
Meridian Bioscience Rating Lowered to Sell at ValuEngine


 
© 2006-2019 Zolmax.