Fate Therapeutics (FATE) PT Raised to $116 at Piper Sandler Ahead of Numerous Catalysts
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Piper Sandler analyst Edward A. Tenthoff raised the price target on Fate Therapeutics (NASDAQ: FATE) to $116.00 (from $99.00) after hosting a panel with Dr. Jeffrey Miller of the University of Minnesota, a renowned expert in NK Cell therapies. During the presentation, Dr. Miller described advantages of iPSCs (ease of gene editing, expansion from a single clone) which allows Fate to be able to develop iterative cell lines with increasingly sophisticated gene edits that can be limitlessly expanded into homogenous NK cell product.
The analyst reiterated an Overweight rating, stating "We look for a busy year for clinical data reports from Fate. We expect FT516 and FT538 AML data at ASGCT in May, FT516 and FT596 B-cell lymphoma data at ASCO in June, solid tumor updates in 3Q:21, and a busy ASH with FT538 and FT576 multiple myeloma data and FT596 DLCBL update. We estimate Fate holds now pro forma cash of ~$934 million."
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