Equities analysts expect that Fate Therapeutics Inc (NASDAQ:FATE) will report $1.81 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Fate Therapeutics’ earnings. The highest sales estimate is $3.00 million and the lowest is $630,000.00. Fate Therapeutics reported sales of $1.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9%. The company is scheduled to announce its next earnings report on Tuesday, March 3rd.
On average, analysts expect that Fate Therapeutics will report full-year sales of $8.65 million for the current financial year, with estimates ranging from $5.00 million to $10.88 million. For the next fiscal year, analysts expect that the firm will post sales of $7.18 million, with estimates ranging from $4.00 million to $12.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Fate Therapeutics had a negative return on equity of 59.38% and a negative net margin of 900.24%. The business had revenue of $2.43 million for the quarter, compared to analyst estimates of $1.75 million. During the same period last year, the business posted ($0.31) EPS. Fate Therapeutics’s revenue was up 136.7% on a year-over-year basis.
FATE has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on Fate Therapeutics in a research note on Monday, July 22nd. They issued an “overweight” rating and a $32.00 price target on the stock. BMO Capital Markets decreased their price target on Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday. ValuEngine upgraded Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. BidaskClub cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus began coverage on Fate Therapeutics in a report on Monday, September 30th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.38.
Shares of NASDAQ FATE traded up $0.05 during midday trading on Thursday, hitting $14.60. 582,100 shares of the company’s stock were exchanged, compared to its average volume of 729,887. The firm’s fifty day simple moving average is $15.13 and its 200-day simple moving average is $17.97. Fate Therapeutics has a twelve month low of $11.00 and a twelve month high of $22.82. The company has a market cap of $1.03 billion, a PE ratio of -12.27 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.61 and a quick ratio of 5.61.
In related news, Director Redmile Group, Llc purchased 857,143 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $17.50 per share, with a total value of $15,000,002.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Scott Wolchko sold 21,017 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.44, for a total value of $303,485.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,417 shares of company stock valued at $536,649. Insiders own 23.19% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC raised its holdings in shares of Fate Therapeutics by 103.0% in the third quarter. Lisanti Capital Growth LLC now owns 125,060 shares of the biopharmaceutical company’s stock worth $1,942,000 after acquiring an additional 63,445 shares during the last quarter. Boston Advisors LLC increased its stake in Fate Therapeutics by 61.4% in the third quarter. Boston Advisors LLC now owns 64,186 shares of the biopharmaceutical company’s stock valued at $997,000 after purchasing an additional 24,416 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Fate Therapeutics in the third quarter valued at $121,000. First Trust Advisors LP increased its stake in Fate Therapeutics by 37.4% in the third quarter. First Trust Advisors LP now owns 184,700 shares of the biopharmaceutical company’s stock valued at $2,868,000 after purchasing an additional 50,312 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Fate Therapeutics by 153.6% in the third quarter. California Public Employees Retirement System now owns 152,914 shares of the biopharmaceutical company’s stock valued at $2,375,000 after purchasing an additional 92,628 shares during the last quarter. 97.19% of the stock is owned by institutional investors.
Fate Therapeutics Company Profile
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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