Needham analyst Gil Blum has maintained their neutral stance on FATE stock, giving a Hold rating today.
Gil Blum has given his Hold rating due to a combination of factors related to the current development stage of Fate Therapeutics’ pipeline. The company is actively working on expanding its pipeline, particularly with the FT819 program in autoimmune diseases (AID) and the FT522 program in relapsed/refractory non-Hodgkin’s lymphoma (r/r NHL). However, these programs are still in the early stages of development, which introduces a level of uncertainty regarding their future success and market impact.
Given the ongoing dose expansion and escalation studies, Fate Therapeutics is expected to present initial results at upcoming conferences, which could potentially influence the stock’s performance. Despite these developments, the company’s current cash position and guidance suggest a cautious approach, justifying the Hold rating until more concrete data and outcomes are available from their clinical trials.
Blum covers the Healthcare sector, focusing on stocks such as Geron, Sarepta Therapeutics, and Recursion Pharmaceuticals. According to TipRanks, Blum has an average return of -12.1% and a 29.86% success rate on recommended stocks.
In another report released today, Stifel Nicolaus also maintained a Hold rating on the stock with a $3.00 price target.
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