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Fate Therapeutics (FATE) Initiated with a Hold at Needham

In a report released today, Gil Blum from Needham initiated coverage with a Hold rating on Fate Therapeutics (FATEResearch Report). The company’s shares closed last Wednesday at $33.17.

According to TipRanks.com, Blum is ranked 0 out of 5 stars with an average return of -12.9% and a 35.6% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Aeglea Biotherapeutics, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fate Therapeutics with a $66.57 average price target.

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Fate Therapeutics’ market cap is currently $3.21B and has a P/E ratio of -13.61.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FATE in relation to earlier this year.

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Fate Therapeutics, Inc. operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system. Its products include ProHema, ProTmune, Adaptive NK, iPSC-derived NK, Programmed CD34 and T cell therapy. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko and John D. Mendlein on April 27, 2007 and is headquartered in San Diego, CA.

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