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Investing.com - H.C. Wainwright has reiterated its Neutral rating and $5.00 price target on Fate Therapeutics (NASDAQ:FATE), currently trading at $1.14, following the company’s presentation of FT819 data in lupus at the European Alliance of Associations for Rheumatology (EULAR) 2025 Congress in Barcelona, Spain. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis, despite showing significant volatility with a 64.6% decline over the past year.
The clinical trial involved five patients treated with FT819, with four patients in Regimen A and one in Regimen B, which had no conditioning regimen. Four patients received dose level 1 (360M cells), while one patient in Regimen A received the second dose level (900M cells). While the company maintains a strong liquidity position with a current ratio of 8.81 and more cash than debt on its balance sheet, InvestingPro analysis indicates the company is quickly burning through its cash reserves.
Three patients with active lupus nephritis and prior B-cell targeted therapy achieved primary efficacy renal response with at least a 10-point reduction in SLE disease activity index from baseline. The SLEDAI-2K scores showed significant improvements: 20 to 4 at Month 12; 20 to 8 at Month 6.5; and 14 to 4 at Month 1.
Fate Therapeutics noted that the first patient to reach 12-month follow-up continues on study in drug-free DORIS criteria, which H.C. Wainwright considers the benchmark for success. DORIS criteria include a clinical SLEDAI-2K score of 0, a PGA score below 0.5, and allowance for ongoing treatment with certain medications.
H.C. Wainwright indicated it would like to see more DORIS remissions to consider FT819 a viable commercial threat, leading to the maintained Neutral rating on the stock. The broader analyst consensus shows mixed sentiment, with a target range of $2-12, while InvestingPro identifies 12 additional key insights about FATE’s financial health and market position. Get the complete analysis and discover what really matters for FATE’s future in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Fate Therapeutics presented updated clinical results for its FT819 therapy in lupus patients at the EULAR meeting in Spain. The company reported that all three patients with severe lupus nephritis treated with this therapy achieved Primary Efficacy Renal Response, and one patient remained in drug-free remission for over a year. Despite these promising results, Needham maintained a hold rating on the stock, citing the small sample size and limited follow-up. BofA Securities also lowered its price target to $2.20 while maintaining a Neutral rating, noting competitive positioning concerns in the cell-therapy market. Additionally, Baird adjusted its price target for Fate Therapeutics to $4.00, keeping a Neutral rating, after the company’s financial results met market expectations. Fate Therapeutics plans to expand its program to include other autoimmune conditions and has scheduled further data presentations at the EULAR conference. The company continues to explore potential registrational pathways with the FDA under its RMAT designation. These developments highlight Fate Therapeutics’ ongoing efforts in advancing its pipeline amid a competitive landscape.
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