Fate Therapeutics (NASDAQ:FATE) Coverage Initiated at Oppenheimer

Oppenheimer initiated coverage on shares of Fate Therapeutics (NASDAQ:FATE) in a research report issued on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $27.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 25.35% from the stock’s previous close.

Other analysts have also issued research reports about the company. Piper Jaffray Companies lowered Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a report on Thursday, June 27th. Svb Leerink initiated coverage on Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. Guggenheim restated a “hold” rating on shares of Burlington Stores in a report on Thursday, May 30th. Roth Capital reduced their target price on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.77.

FATE opened at $21.54 on Friday. The firm has a fifty day simple moving average of $19.49. Fate Therapeutics has a 12-month low of $8.64 and a 12-month high of $22.61. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.26.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) 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 analysts’ expectations of $2.01 million. Fate Therapeutics had a negative net margin of 1,138.12% and a negative return on equity of 54.30%. Fate Therapeutics’s revenue for the quarter was up 156.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.27) EPS. Sell-side analysts anticipate that Fate Therapeutics will post -1.29 EPS for the current fiscal year.

In other news, insider Daniel D. Shoemaker sold 12,500 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were 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 of the company’s stock, valued at $2,992,919.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider J Scott Wolchko sold 14,335 shares of the company’s 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 completion of the transaction, the insider now directly owns 389,216 shares in the company, valued at $7,539,113.92. The disclosure for this sale can be found here. Insiders sold 35,376 shares of company stock worth $668,402 over the last ninety days. 23.19% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FATE. BlackRock Inc. increased its position in Fate Therapeutics by 45.0% during the fourth 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 last quarter. Victory Capital Management Inc. increased its position in Fate Therapeutics by 49.7% during the first 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 position in Fate Therapeutics by 17.8% during the fourth 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 position in Fate Therapeutics by 36.3% during the fourth 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 position in Fate Therapeutics by 269.0% during the fourth 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 and hedge funds.

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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Analyst Recommendations for Fate Therapeutics (NASDAQ:FATE)

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