Analyst Daina Graybosch of Leerink Partners maintained a Buy rating on Fate Therapeutics (FATE – Research Report), retaining the price target of $12.00.
Daina Graybosch’s rating is based on Fate Therapeutics’ unique position in the cell-therapy space, particularly with its focus on allogeneic NK cell and CAR-T cell therapies targeting B-cell-driven autoimmune diseases and oncology. The company’s lead program, FT819, is making significant progress in its Phase 1 trial for systemic lupus erythematosus (SLE), with promising early results in terms of efficacy and safety.
Graybosch is optimistic about the upcoming updates from the FT819 trial, which are expected to provide further validation of its clinical benefits. The company’s strategic approach to clinical development, including minimally-intensive lymphodepletion strategies and potential maintenance regimens, could differentiate FT819 from other treatments. However, there is some concern about the need for more intensive dosing to maintain remissions, which could affect investor sentiment.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FATE in relation to earlier this year.