Fate Therapeutics, Inc. (FATE) saw a big move last session, as the company’s shares fell by nearly 14% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for FATE as the stock is now up around 40% in the past one-month time frame.
Although this slump was obviously disappointing, this biopharmaceutical company has seen 1 positive revision and its current year loss estimate has narrowed over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for FATE. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
FATE currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.
Some better-ranked stocks in the Med-Biomed/Generic sector include ANI Pharmaceuticals, Inc. (ANIP), Gilead Sciences Inc. (GILD) and Alkermes plc (ALKS). All these stocks carry a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Be the first to comment