Analysts Are Downgrading These 5 Stocks

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In this article, we discuss the 5 stocks recently downgraded by analysts. If you want to see more such stocks on the list, go directly to Analysts Are Downgrading These 10 Stocks.

5. Fate Therapeutics, Inc. (NASDAQ:FATE)

Number of Hedge Fund Holders: 27

Truist analyst Robyn Karnauskas lowered her ratings for Fate Therapeutics, Inc. (NASDAQ:FATE) from “Buy” to “Hold” on Friday, January 6. Karnauskas was primarily moved by the company’s decision to end collaboration with Janssen. She reduced her price target for the biopharmaceutical company from $46 per share to $7 per share.

Meanwhile, Fate Therapeutics, Inc. (NASDAQ:FATE) also announced job cuts as a part of its efforts to limit operating costs. Moving forward, the company plans to prioritize its clinical programs besides discontinuing some of them.

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