Fate Therapeutics (FATE) Shares Up 5.4%

Fate Therapeutics Inc (NASDAQ:FATE)’s share price shot up 5.4% during trading on Monday . The company traded as high as $16.19 and last traded at $16.19. 16,507 shares were traded during mid-day trading, a decline of 97% from the average session volume of 610,025 shares. The stock had previously closed at $15.36.

A number of brokerages recently commented on FATE. HC Wainwright reissued a “hold” rating and issued a $12.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. BidaskClub raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Wedbush reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Fate Therapeutics in a report on Tuesday, August 7th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Fate Therapeutics in a report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.25.

The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.44 and a current ratio of 9.44. The firm has a market capitalization of $992.30 million, a PE ratio of -16.64 and a beta of 2.04.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.24 million. During the same period in the prior year, the firm posted ($0.26) earnings per share. Fate Therapeutics’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts predict that Fate Therapeutics Inc will post -1.21 EPS for the current fiscal year.

In other news, Director Redmile Group, Llc purchased 3,703,704 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were acquired at an average cost of $13.50 per share, with a total value of $50,000,004.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.89% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FATE. Redmile Group LLC lifted its position in Fate Therapeutics by 58.9% during the third quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock valued at $172,289,000 after purchasing an additional 3,920,401 shares during the period. Partner Fund Management L.P. acquired a new position in Fate Therapeutics during the third quarter valued at $24,455,000. FMR LLC lifted its position in Fate Therapeutics by 15.3% during the third quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock valued at $124,413,000 after purchasing an additional 1,011,596 shares during the period. Millennium Management LLC acquired a new position in Fate Therapeutics during the second quarter valued at $7,770,000. Finally, Aquilo Capital Management LLC acquired a new position in Fate Therapeutics during the second quarter valued at $6,579,000. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

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About Fate Therapeutics (NASDAQ:FATE)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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