Free Trial

Wells Fargo & Company Cuts Fate Therapeutics (NASDAQ:FATE) Price Target to $4.00

Fate Therapeutics logo with Medical background
Remove Ads

Fate Therapeutics (NASDAQ:FATE - Get Free Report) had its price target decreased by analysts at Wells Fargo & Company from $5.00 to $4.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price suggests a potential upside of 331.59% from the company's current price.

A number of other equities analysts have also commented on the company. Bank of America raised Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note on Monday, November 18th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a report on Thursday. StockNews.com upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Wedbush reiterated a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.50.

Remove Ads

Get Our Latest Stock Analysis on Fate Therapeutics

Fate Therapeutics Stock Performance

FATE traded down $0.08 during trading on Thursday, reaching $0.93. 2,271,640 shares of the company traded hands, compared to its average volume of 2,565,236. The company has a market cap of $106.21 million, a P/E ratio of -0.56 and a beta of 2.26. Fate Therapeutics has a 12-month low of $0.88 and a 12-month high of $8.44. The firm has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $2.35.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its earnings results on Wednesday, March 5th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. The company had revenue of $1.86 million during the quarter, compared to analysts' expectations of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. As a group, sell-side analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other news, Director Redmile Group, Llc purchased 397,964 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares of the company's stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Graham Capital Management L.P. purchased a new stake in shares of Fate Therapeutics in the fourth quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. bought a new position in Fate Therapeutics in the 4th quarter valued at $40,000. Brevan Howard Capital Management LP purchased a new stake in Fate Therapeutics in the fourth quarter worth $41,000. FPC Investment Advisory Inc. bought a new stake in shares of Fate Therapeutics during the fourth quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fate Therapeutics during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 97.54% of the company's stock.

Fate Therapeutics Company Profile

(Get Free Report)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.

Featured Articles

Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

Should You Invest $1,000 in Fate Therapeutics Right Now?

Before you consider Fate Therapeutics, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fate Therapeutics wasn't on the list.

While Fate Therapeutics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.
Remove Ads

Featured Articles and Offers

Recent Videos

Will Tesla’s Robot Future Save Its Falling Stock?
NVIDIA’s Dip Is a Gift—Here’s Why It Won’t Last
Best ETFs for Spring 2025: Strong and Steady Investing

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines

Remove Ads