Wall Street analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to announce $1.81 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Fate Therapeutics’ earnings, with the lowest sales estimate coming in at $630,000.00 and the highest estimate coming in at $3.00 million. Fate Therapeutics posted sales of $1.66 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is expected to issue its next earnings results 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 year, analysts forecast that the business will report sales of $7.18 million, with estimates ranging from $4.00 million to $12.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $1.75 million. During the same period in the prior year, the business earned ($0.31) EPS. Fate Therapeutics’s quarterly revenue was up 136.7% on a year-over-year basis.
Several analysts have commented on FATE shares. Zacks Investment Research lowered shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus started coverage on shares of Fate Therapeutics in a research report on Monday, September 30th. They issued a “buy” rating and a $27.00 price objective on the stock. Wedbush lifted their price objective on shares of Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. ValuEngine raised shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 4th. Finally, BTIG Research started coverage on shares of Fate Therapeutics in a research report on Friday, August 9th. They issued a “buy” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Fate Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $24.38.
NASDAQ FATE traded up $0.05 during mid-day trading on Thursday, reaching $14.60. 582,100 shares of the stock were exchanged, compared to its average volume of 729,887. The stock has a market cap of $1.03 billion, a P/E 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. Fate Therapeutics has a one year low of $11.00 and a one year high of $22.82. The stock has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $17.97.
In other news, insider Bahram Valamehr sold 6,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.18, for a total value of $87,916.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Redmile Group, Llc purchased 857,143 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $15,000,002.50. The disclosure for this purchase can be found here. In the last three months, insiders sold 37,417 shares of company stock worth $536,649. Insiders own 23.19% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FATE. Victory Capital Management Inc. raised its position in shares of Fate Therapeutics by 48.3% in the second quarter. Victory Capital Management Inc. now owns 2,927,930 shares of the biopharmaceutical company’s stock valued at $59,437,000 after purchasing an additional 953,756 shares during the period. Nikko Asset Management Americas Inc. bought a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $10,329,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $10,329,000. Pictet Asset Management Ltd. bought a new stake in shares of Fate Therapeutics in the second quarter valued at approximately $7,012,000. Finally, Wells Fargo & Company MN raised its position in shares of Fate Therapeutics by 240.0% in the second quarter. Wells Fargo & Company MN now owns 479,015 shares of the biopharmaceutical company’s stock valued at $9,725,000 after purchasing an additional 338,130 shares during the period. 97.19% of the stock is currently owned by 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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