Wall Street analysts forecast that Fate Therapeutics Inc (NASDAQ:FATE) will announce ($0.24) earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Fate Therapeutics’ earnings. The highest EPS estimate is ($0.21) and the lowest is ($0.27). Fate Therapeutics reported earnings of ($0.21) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The firm is expected to announce its next quarterly earnings report on Thursday, March 15th.
On average, analysts expect that Fate Therapeutics will report full year earnings of ($0.97) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.94). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.87) per share, with EPS estimates ranging from ($1.01) to ($0.72). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Fate Therapeutics.
Several brokerages have commented on FATE. ValuEngine raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $7.00 target price (down from $10.00) on shares of Fate Therapeutics in a report on Thursday, January 18th. Finally, Piper Jaffray Companies began coverage on Fate Therapeutics in a report on Monday, December 18th. They set an “overweight” rating and a $10.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $7.71.
Several hedge funds have recently bought and sold shares of the company. Monashee Investment Management LLC bought a new position in shares of Fate Therapeutics in the 4th quarter worth about $1,833,000. BlackRock Inc. raised its position in shares of Fate Therapeutics by 2.6% in the 4th quarter. BlackRock Inc. now owns 1,705,293 shares of the biopharmaceutical company’s stock worth $10,421,000 after acquiring an additional 43,499 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 12,686 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Fate Therapeutics by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 328,023 shares of the biopharmaceutical company’s stock worth $2,004,000 after acquiring an additional 84,269 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Fate Therapeutics by 260.7% in the 4th quarter. Victory Capital Management Inc. now owns 334,680 shares of the biopharmaceutical company’s stock worth $2,045,000 after acquiring an additional 241,890 shares in the last quarter. 50.00% of the stock is owned by hedge funds and other institutional investors.
Fate Therapeutics (NASDAQ FATE) traded down $0.20 during midday trading on Monday, hitting $7.80. The company had a trading volume of 307,009 shares, compared to its average volume of 653,369. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.21 and a current ratio of 7.21. Fate Therapeutics has a 12 month low of $2.52 and a 12 month high of $9.78. The firm has a market cap of $397.66, a P/E ratio of -8.21 and a beta of 2.00.
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About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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