Fate Therapeutics downgraded to Hold from Buy at Stifel

Stifel analyst Benjamin Burnett downgraded Fate Therapeutics to Hold from Buy with a price target of $5.30, down from $107, following the discontinuation of FT596, which had been a critical part of his prior thesis. "From here, we think a bullish view requires conviction that new cell edits will work, but at this point there’s too little data for us to build a positive thesis," Burnett tells investors in a research note.