Cowen Downgrades Fate Therapeutics (FATE) to Market Perform
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Rating Summary:
9 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Cowen analyst Tyler Van Buren downgraded Fate Therapeutics (NASDAQ: FATE) from Outperform to Market Perform.
The analyst comments "We have been concerned about iNK durability for some time now, but had hoped that would improve in subsequent cohorts with more/higher doses where data was expected this quarter. That clearly is not the case as mgmt discontinued these 1st-gen programs, among others. We commend management for making the tough decisions, but downgrade to (2) given the pipeline reset and lack of near-term catalysts."
For an analyst ratings summary and ratings history on Fate Therapeutics click here. For more ratings news on Fate Therapeutics click here.
Shares of Fate Therapeutics closed at $11.00 yesterday.
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