Fate Therapeutics (NASDAQ:FATE) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Fate Therapeutics (NASDAQ:FATE - Free Report) from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other research firms also recently commented on FATE. Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, March 6th. Stifel Nicolaus reduced their price objective on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a research note on Thursday, March 6th. Wedbush reiterated a "neutral" rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, March 6th. Finally, Bank of America upgraded shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Fate Therapeutics presently has an average rating of "Hold" and an average price target of $5.50.

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Fate Therapeutics Stock Performance

Shares of FATE stock traded up $0.03 on Tuesday, hitting $0.96. The stock had a trading volume of 1,885,793 shares, compared to its average volume of 2,550,722. The firm has a market capitalization of $110.00 million, a price-to-earnings ratio of -0.58 and a beta of 2.26. The stock's 50 day moving average is $1.34 and its 200-day moving average is $2.31. Fate Therapeutics has a 52-week low of $0.87 and a 52-week high of $8.27.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced 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 business had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. Equities analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Redmile Group, Llc acquired 397,964 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently bought and sold shares of the stock. Intech Investment Management LLC increased its stake in Fate Therapeutics by 27.5% during the 4th quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 8,497 shares during the period. SG Americas Securities LLC increased its stake in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 10,511 shares during the period. Geode Capital Management LLC increased its stake in Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company's stock valued at $7,905,000 after buying an additional 10,863 shares during the period. American Century Companies Inc. increased its stake in Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock valued at $326,000 after buying an additional 12,295 shares during the period. Finally, Franklin Resources Inc. increased its stake in Fate Therapeutics by 9.6% during the 4th quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company's stock valued at $273,000 after buying an additional 14,532 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

Fate Therapeutics Company Profile

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.