Fate Therapeutics (NASDAQ:FATE) Posts Quarterly Earnings Results, Hits Expectations

Fate Therapeutics (NASDAQ:FATE) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.27) EPS for the quarter, meeting analysts’ consensus estimates of ($0.27), FiscalAI reports. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The business had revenue of $1.37 million for the quarter, compared to analyst estimates of $1.20 million.

Fate Therapeutics Trading Down 5.1%

Shares of FATE traded down $0.08 on Friday, reaching $1.48. 1,596,196 shares of the company’s stock were exchanged, compared to its average volume of 1,782,400. Fate Therapeutics has a 12 month low of $0.66 and a 12 month high of $1.94. The stock has a market capitalization of $170.72 million, a P/E ratio of -1.12 and a beta of 2.24. The business has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.16.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright raised shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Friday, October 31st. Wall Street Zen lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in shares of Fate Therapeutics during the 4th quarter worth approximately $26,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics in the 2nd quarter valued at about $28,000. Corient Private Wealth LLC acquired a new position in shares of Fate Therapeutics during the 4th quarter worth about $29,000. The Manufacturers Life Insurance Company bought a new stake in shares of Fate Therapeutics in the 4th quarter valued at about $35,000. Finally, Russell Investments Group Ltd. grew its holdings in Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 12,114 shares during the period. 97.54% of the stock is currently owned by institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.