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

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

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

Fate Therapeutics Stock Performance

NASDAQ FATE traded down $0.09 on Monday, reaching $1.03. The stock had a trading volume of 3,825,976 shares, compared to its average volume of 2,541,423. The stock has a market cap of $117.31 million, a P/E ratio of -0.62 and a beta of 2.02. Fate Therapeutics has a 12-month low of $0.98 and a 12-month high of $8.83. The business’s 50-day moving average price is $1.42 and its 200 day moving average price is $2.43.

Insider Transactions at Fate Therapeutics

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

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Privium Fund Management B.V. acquired a new stake in shares of Fate Therapeutics in the 3rd quarter valued at approximately $175,000. Thrivent Financial for Lutherans raised its position in Fate Therapeutics by 24.7% in the third quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company’s stock worth $439,000 after acquiring an additional 24,804 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Fate Therapeutics in the third quarter valued at $108,000. FMR LLC boosted its position in shares of Fate Therapeutics by 25.9% during the 3rd quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 46,892 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after purchasing an additional 161,776 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

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.