Brokerages expect Fate Therapeutics Inc (NASDAQ:FATE) to post ($0.39) earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Fate Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.48) and the highest estimate coming in at ($0.28). Fate Therapeutics reported earnings per share of ($0.25) in the same quarter last year, which would suggest a negative year-over-year growth rate of 56%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 3rd.
According to Zacks, analysts expect that Fate Therapeutics will report full year earnings of ($1.46) per share for the current year, with EPS estimates ranging from ($1.51) to ($1.41). For the next year, analysts anticipate that the business will post earnings of ($1.64) per share, with EPS estimates ranging from ($2.23) to ($1.20). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The business had revenue of $2.43 million for the quarter, compared to the consensus estimate of $1.75 million. Fate Therapeutics had a negative return on equity of 59.38% and a negative net margin of 900.24%. The firm’s revenue was up 136.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.31) earnings per share.
Several analysts recently commented on the company. Zacks Investment Research downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald assumed coverage on Fate Therapeutics in a research note on Monday, July 22nd. They set an “overweight” rating and a $32.00 price objective on the stock. Wells Fargo & Co downgraded Fate Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $24.00 to $16.00 in a research note on Wednesday. Finally, Wedbush raised their price objective on Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Fate Therapeutics has an average rating of “Buy” and a consensus target price of $24.38.
FATE traded up $0.05 during mid-day trading on Tuesday, reaching $14.60. The stock had a trading volume of 582,100 shares, compared to its average volume of 729,887. The stock has a market capitalization of $1.03 billion, a P/E ratio of -12.27 and a beta of 1.81. Fate Therapeutics has a 52 week low of $11.00 and a 52 week high of $22.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.61 and a current ratio of 5.61. The firm’s fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $17.97.
In other news, Director Redmile Group, Llc purchased 857,143 shares of the company’s stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $17.50 per share, with a total value of $15,000,002.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bahram Valamehr sold 6,200 shares of Fate Therapeutics stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.18, for a total value of $87,916.00. The disclosure for this sale can be found here. Insiders sold a total of 37,417 shares of company stock worth $536,649 in the last three months. Company insiders own 23.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Fate Therapeutics in the 2nd quarter valued at about $10,329,000. Nikko Asset Management Americas Inc. acquired a new stake in shares of Fate Therapeutics in the second quarter valued at about $10,329,000. First Trust Advisors LP acquired a new stake in shares of Fate Therapeutics in the second quarter valued at about $2,728,000. ARK Investment Management LLC acquired a new stake in shares of Fate Therapeutics in the second quarter valued at about $4,508,000. Finally, Aperio Group LLC acquired a new stake in shares of Fate Therapeutics in the second quarter valued at about $79,000. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
About Fate Therapeutics
Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.
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