Equities research analysts predict that Fate Therapeutics, Inc. (NASDAQ:FATE) will post $1.02 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Fate Therapeutics’ earnings, with the lowest sales estimate coming in at $1.00 million and the highest estimate coming in at $1.03 million. Fate Therapeutics reported sales of $1.03 million in the same quarter last year, which indicates a negative year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Fate Therapeutics will report full-year sales of $1.02 million for the current year, with estimates ranging from $3.00 million to $4.11 million. For the next financial year, analysts forecast that the business will report sales of $8.48 million per share, with estimates ranging from $4.02 million to $13.80 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.03. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%. The company had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.04 million.
Several research analysts recently commented on the company. Roth Capital set a $8.00 price target on Fate Therapeutics and gave the company a “buy” rating in a research report on Saturday, March 18th. BMO Capital Markets increased their price target on Fate Therapeutics to $7.00 and gave the company a “buy” rating in a research report on Friday, March 17th. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, February 28th. Zacks Investment Research cut Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Finally, HC Wainwright reduced their price target on Fate Therapeutics from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, March 20th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $5.88.
Shares of Fate Therapeutics (NASDAQ FATE) traded down 5.64% during midday trading on Friday, reaching $3.01. The company’s stock had a trading volume of 288,875 shares. Fate Therapeutics has a 12 month low of $1.55 and a 12 month high of $5.68. The company’s market cap is $124.62 million. The stock has a 50-day moving average of $3.95 and a 200 day moving average of $3.65.
Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Fate Therapeutics by 479.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock worth $655,000 after buying an additional 119,200 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Fate Therapeutics during the first quarter worth about $145,000. EcoR1 Capital LLC acquired a new stake in Fate Therapeutics during the first quarter worth about $11,543,000. KCG Holdings Inc. boosted its stake in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,764 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Fate Therapeutics by 40.9% in the first quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock worth $1,345,000 after buying an additional 85,800 shares during the last quarter. 61.94% of the stock is owned by institutional investors.
Fate Therapeutics Company Profile
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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