Wells Fargo lowered the firm’s price target on Fate Therapeutics (FATE) to $2.50 from $4 and keeps an Equal Weight rating on the shares. The firm highlights new measures implemented by Fate to extend cash runway, including seeking partnership for the CAR NK program and a 12% workforce reduction. With runway now extended through year-end 2027, Wells sees additional CAR T SLE data and regulatory alignment as next focus.
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