Fate Therapeutics Inc (NASDAQ:FATE) had its target price upped by BMO Capital Markets to $7.00 in a research report sent to investors on Friday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
FATE has been the subject of several other research reports. Zacks Investment Research cut Fate Therapeutics from a buy rating to a hold rating in a report on Tuesday, March 7th. Wedbush restated an outperform rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Tuesday, February 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $5.88.
Fate Therapeutics (NASDAQ:FATE) traded up 8.84% during mid-day trading on Friday, hitting $5.05. 1,460,397 shares of the company were exchanged. Fate Therapeutics has a 12 month low of $1.47 and a 12 month high of $5.68. The firm has a 50 day moving average price of $3.75 and a 200 day moving average price of $3.01. The stock’s market cap is $172.45 million.
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Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in Fate Therapeutics by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 6,076,879 shares of the biopharmaceutical company’s stock valued at $15,084,000 after buying an additional 751,879 shares in the last quarter. Renaissance Technologies LLC raised its position in Fate Therapeutics by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 209,900 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 21,900 shares in the last quarter. Finally, FMR LLC raised its position in Fate Therapeutics by 2.0% in the fourth quarter. FMR LLC now owns 4,391,885 shares of the biopharmaceutical company’s stock valued at $11,024,000 after buying an additional 84,400 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.
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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