Stifel analyst Benjamin Burnett lowered the firm’s price target on Fate Therapeutics to $4.50 from $5 and keeps a Hold rating on the shares. The company’s Q3 update largely involved the company’s transition to a newer set of technologies, the analyst tells investors. While the firm likes the direction the company is taking with its new programs, Stifel is hesitant to build a bullish thesis without clinical data.
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