UBS Group Downgrades Fate Therapeutics (FATE) to Market Perform

UBS Group downgraded shares of Fate Therapeutics (NASDAQ:FATE) from an outperform rating to a market perform rating in a research note released on Tuesday morning, The Fly reports.

Several other equities research analysts have also issued reports on FATE. HC Wainwright reissued a buy rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Friday, November 10th. ValuEngine lowered Fate Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. Raymond James Financial reissued a buy rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. Piper Jaffray Companies initiated coverage on Fate Therapeutics in a research report on Monday, December 18th. They set an overweight rating and a $10.00 price target on the stock. Finally, Wedbush reissued an outperform rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Fate Therapeutics presently has a consensus rating of Buy and an average price target of $13.00.

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Shares of Fate Therapeutics (FATE) opened at $13.17 on Tuesday. The company has a current ratio of 9.29, a quick ratio of 7.21 and a debt-to-equity ratio of 0.19. Fate Therapeutics has a 52-week low of $2.52 and a 52-week high of $14.45.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05). The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.02 million. Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. Fate Therapeutics’s quarterly revenue was up .0% on a year-over-year basis. sell-side analysts predict that Fate Therapeutics will post -0.91 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund acquired a new stake in Fate Therapeutics in the second quarter worth $131,000. Raymond James & Associates acquired a new stake in Fate Therapeutics in the fourth quarter worth $141,000. Hochman Cole Investment Advisors Inc. acquired a new stake in Fate Therapeutics in the third quarter worth $158,000. The Manufacturers Life Insurance Company increased its position in Fate Therapeutics by 61.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 12,686 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Fate Therapeutics in the second quarter worth $214,000. 68.75% of the stock is currently owned by hedge funds and other institutional investors.

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Fate Therapeutics Company Profile

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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