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.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FATE:
- Cautious Hold Rating for Fate Therapeutics Amid Developmental and Regulatory Uncertainties
- Cautious Hold Rating on Fate Therapeutics Amid Promising CAR-iT Developments and Early Stage Trials
- Fate Therapeutics Announces Corporate Restructuring Plan
- Fate Therapeutics reports Q2 EPS (29c), consensus (34c)
- Fate Therapeutics’ Phase 1 Study: A New Hope for Autoimmune Diseases