Shares of biopharmaceutical company Fate Therapeutics (NASDAQ:FATE) have tanked nearly 82% so far in 2022 and short interest in the stock remains sky-high at about 25.5% at present.
This month, its preclinical data for combining iPSC (induced pluripotent stem cell) derived CAR NK cells and NK cell engagers for the treatment of acute myeloid leukemia (AML) failed to cheer investors.
Nonetheless, while the Street remains cautious about the stock, it still sees potential in Fate’s R&D pipeline. Analysts currently have a Moderate Buy consensus rating on the stock alongside an average price target of $63.60.
This implies a massive 477.66% potential upside in the stock. A beta of 1.49 though indicates Fate shares can be volatile and caution may be warranted.
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