Stifel Reiterates Hold Rating on Fate Therapeutics (FATE)

Stifel analyst Benjamin Burnett reiterated a Hold rating and $5.00 price target on Fate Therapeutics (NASDAQ: FATE).

The analyst comments "We're impressed with the first FT819 LN patient. Not only did the patient achieve a SLEDAI-2K of 0 (from a baseline of 20), and DORIS remission, but this was accomplished without fludarabine with an allogeneic CAR T. It's only one patient, but the data are in line with the good results over the summer from BRL Medicine's TyU19 in Myositis/SSc, and build the case for CD19 allogeneic CAR T working in AID. No CRS/ICANS is of course good, and one can't help but wonder if the 1XX costimulatory domain is living up to the hype (controlled cell expansion, less tox), but we also appreciate that the majority of patients in the CABA and BMY CAR T studies likewise exhibited no CRS/ICANS. Two questions: how replicable is this, and how durable will the effect be? Durability will of course take time, but ASH will give us perspective in two more patients."

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 $2.02 yesterday.

You May Also Be Interested In

• 5.5 magnitude earthquake strikes Northern California - EMSC
• FedEx Freight (FDXF) call put ratio 2.7 calls to 1 put into quarter results
• Micron Technology (MU) call put ratio 1.3 calls to 1 put into quarter results