StockNews.com Upgrades Fate Therapeutics (NASDAQ:FATE) to Hold

Fate Therapeutics (NASDAQ:FATE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other research firms also recently issued reports on FATE. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $6.17.

Fate Therapeutics Stock Down 8.0 %

Shares of FATE stock traded down $0.09 during trading hours on Monday, hitting $1.03. 3,825,976 shares of the company’s stock were exchanged, compared to its average volume of 2,541,423. Fate Therapeutics has a fifty-two week low of $0.98 and a fifty-two week high of $8.83. The firm has a market cap of $117.31 million, a P/E ratio of -0.62 and a beta of 2.02. The firm has a 50 day moving average of $1.42 and a two-hundred day moving average of $2.43.

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc purchased 397,964 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its position in Fate Therapeutics by 27.5% in the fourth quarter. Intech Investment Management LLC now owns 39,443 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 8,497 shares during the period. SG Americas Securities LLC grew its holdings in shares of Fate Therapeutics by 30.6% in the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares in the last quarter. Geode Capital Management LLC boosted its position in Fate Therapeutics by 0.5% in 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. grew 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 worth $326,000 after purchasing an additional 12,295 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Fate Therapeutics by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company’s stock worth $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.