Cowen Downgrades Fate Therapeutics (FATE) to Market Perform

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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