-$0.38 EPS Expected for Fate Therapeutics Inc (NASDAQ:FATE) This Quarter

Equities research analysts expect that Fate Therapeutics Inc (NASDAQ:FATE) will report earnings per share of ($0.38) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Fate Therapeutics’ earnings, with estimates ranging from ($0.45) to ($0.29). Fate Therapeutics posted earnings per share of ($0.30) during the same quarter last year, which indicates a negative year-over-year growth rate of 26.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, May 5th.

On average, analysts expect that Fate Therapeutics will report full-year earnings of ($1.63) per share for the current fiscal year, with EPS estimates ranging from ($2.07) to ($1.36). For the next financial year, analysts anticipate that the firm will post earnings of ($1.79) per share, with EPS estimates ranging from ($2.29) to ($1.48). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Monday, March 2nd. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. Fate Therapeutics had a negative net margin of 919.00% and a negative return on equity of 49.94%. The company had revenue of $2.80 million for the quarter, compared to analysts’ expectations of $1.70 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Fate Therapeutics’s quarterly revenue was up 68.7% on a year-over-year basis.

FATE has been the topic of several research reports. BTIG Research boosted their price target on shares of Fate Therapeutics from to and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Piper Sandler boosted their price target on shares of Fate Therapeutics from to and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Oppenheimer boosted their price target on shares of Fate Therapeutics from $27.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. ValuEngine upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. Finally, BidaskClub cut shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $33.94.

FATE traded down $0.09 during trading hours on Friday, hitting $23.31. The company’s stock had a trading volume of 834,442 shares, compared to its average volume of 1,120,458. The business’s 50-day moving average price is $26.65 and its 200-day moving average price is $20.14. Fate Therapeutics has a 12 month low of $12.59 and a 12 month high of $32.39. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -16.30 and a beta of 1.71. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.10.

In other news, CEO J Scott Wolchko sold 25,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $25.45, for a total transaction of $636,250.00. Following the completion of the sale, the chief executive officer now directly owns 444,969 shares of the company’s stock, valued at $11,324,461.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bahram Valamehr sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $20.69, for a total transaction of $117,933.00. Following the sale, the insider now directly owns 91,758 shares of the company’s stock, valued at $1,898,473.02. The disclosure for this sale can be found here. Insiders own 23.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FATE. California Public Employees Retirement System boosted its stake in shares of Fate Therapeutics by 153.6% during 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 period. First Trust Advisors LP boosted its stake in shares of Fate Therapeutics by 37.4% during 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 period. Tower Research Capital LLC TRC purchased a new stake in shares of Fate Therapeutics during the third quarter valued at $121,000. Endurant Capital Management LP purchased a new stake in shares of Fate Therapeutics during the third quarter valued at $2,590,000. Finally, State Street Corp boosted its stake in shares of Fate Therapeutics by 11.6% during the third quarter. State Street Corp now owns 2,710,736 shares of the biopharmaceutical company’s stock valued at $42,098,000 after purchasing an additional 282,710 shares during the period. 95.07% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

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