![]() Fundamental Stock Analysis: Positive Fundamentals: ![]() The iPSC-derived CAR NK and CAR T-cell initiatives, however, should be able to be supported through 2025 thanks to the company’s available cash balance and other cost-cutting efforts. The clinical-stage biopharmaceutical company has disclosed plans to lay off workers, reducing the number of personnel from 449 at the end of December to 220.įT516 and FT538 NK cell programs for acute myeloid leukemia, FT516 and FT596 NK cell programs for B-cell lymphoma, and FT538 and FT536 NK cell programs for solid malignancies will also no longer be developed clinically by Fate. The reduction is the result of the company terminating a partnership with Janssen Biotech, a Johnson & Johnson (JNJ) affiliate. News:įollowing a loss of around 45% in yesterday’s after-hours trading, the price of Fate Therapeutics (NASDAQ:FATE) stock plunged about 50% on Friday. has changed by +1.00% over the previous week, -9.40% over the previous month, and -77.72% over the previous year. The stock price of Fate Therapeutics Inc. Fate Therapeutics Inc.’s stock analysis by Stock Target Advisor is Slightly Bearish and is based on 3 positive and 5 negative signals. The typical analyst rating for Fate Therapeutics Inc. Fate Stock Forecast:Īccording on 18 analysts’ stock predictions for Fate Therapeutics Inc, the average analyst target price for Fate Therapeutics Inc over the next 12 months is USD 0.00. Investors may want to exercise caution with this stock until there are more concrete developments in the company’s clinical programs. Overall, the downgrade by Truist, Stifel, and BMO highlights the challenges and uncertainties facing Fate Therapeutics at present. However, it remains to be seen whether these collaborations will provide the necessary catalyst for the company to turn its fortunes around. In addition to its internal development efforts, Fate Therapeutics has also entered into several strategic collaborations and license agreements, including with Juno Therapeutics, Janssen B, and Ono Pharmaceutical. ![]() ![]() However, the company has faced clinical setbacks and delays in the advancement of these programs. The company has several immuno-oncology programs in development, including FT516 for the treatment of acute myeloid leukemia, B-cell lymphoma, and advanced solid tumors FT596 for the treatment of B-cell lymphoma and chronic lymphocytic leukemia FT576 for the treatment of multiple myeloma and FT819 for the treatment of hematologic malignancies and solid tumors. In their research note, BMO cited uncertainty surrounding the clinical progress of the company’s programs as the main reason for the downgrade.įate Therapeutics’ stock price has taken a hit following the analyst changes, falling over 20% in Wednesday’s trading. In their report, Stifel pointed to the company’s clinical setbacks and delays as contributing factors to the downgrade.īMO also downgraded Fate therapeutics to a Market Perform and reduced the target price to $7 from $20. Stifel Nicolaus Research also downgraded Fate Therapeutics (FATE:NSD) to a Hold rating and lowered the target price to $5.3 from $107. In their research note, Truist cited a lack of near-term catalysts and increased competition in the immuno-oncology space as reasons for the downgrade. Truist Securities downgraded Fate Therapeutics to a Hold rating and cut the target price to $7 from $46. On Friday January 6th, three analysts made significant changes to their ratings and target prices for Fate Therapeutics, a clinical-stage biopharmaceutical company that develops programmed cellular immunotherapies for cancer and immunological diseases.
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