Wells Fargo & Co reissued their outperform rating on shares of Fate Therapeutics (NASDAQ:FATE) in a research report released on Tuesday. The brokerage currently has a $19.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $10.00.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Fate Therapeutics from a hold rating to a buy rating and set a $7.50 target price for the company in a research note on Tuesday, January 9th. Wedbush restated an outperform rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Monday, December 18th. Piper Jaffray Companies initiated coverage on Fate Therapeutics in a research note on Monday, December 18th. They set an overweight rating and a $10.00 target price for the company. HC Wainwright restated a buy rating and set a $7.00 target price on shares of Fate Therapeutics in a research note on Wednesday, December 13th. Finally, Raymond James Financial restated a buy rating on shares of Fate Therapeutics in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $13.00.
Shares of Fate Therapeutics (NASDAQ:FATE) opened at $13.17 on Tuesday. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $14.45. The firm has a market capitalization of $671.43, a P/E ratio of -12.91 and a beta of 1.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.21 and a current ratio of 9.29.
Several hedge funds have recently made changes to their positions in FATE. Schwab Charles Investment Management Inc. bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $214,000. Teachers Advisors LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $233,000. TIAA CREF Investment Management LLC bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $373,000. New York State Common Retirement Fund bought a new stake in shares of Fate Therapeutics in the 2nd quarter worth approximately $131,000. Finally, Northern Trust Corp lifted its position in shares of Fate Therapeutics by 968.7% in the 2nd quarter. Northern Trust Corp now owns 368,208 shares of the biopharmaceutical company’s stock worth $1,193,000 after acquiring an additional 333,753 shares during the period. Institutional investors own 68.75% of the company’s stock.
About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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