FATE - Fate Therapeutics upgraded at Wedbush after data for off-the-shelf candidates

Wedbush analyst David Nierengarten has raised Fate Therapeutics (FATE +1.7%) shares to Outperform from Neutral, citing recent data presented for the company’s off-the-shelf natural killer (NK) cell product candidates, FT516 and FT596. At the 63rd American Society of Hematology (ASH) Annual Meeting, Fate (NASDAQ:FATE) shared data for FT516 from a dose-escalation stage of a Phase 1 trial in patients with relapsed / refractory B-cell lymphoma. The company also disclosed interim data from a Phase 1 trial designed to assess FT596 as a monotherapy and in combination with rituximab for the indication. In addition to the attractive valuation of the stock, with the durability of response and consistency in overall response rates, as seen in results, the risk-reward setup of company shares “has improved significantly,” Nierengarten wrote. The price target of $74 per share implies a premium of ~47.5% to the last close. Ahead of the data readouts, Cowen initiated the

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Fate Therapeutics upgraded at Wedbush after data for off-the-shelf candidates