Fate Therapeutics Inc (FATE) Expected to Post Earnings of -$0.30 Per Share

Analysts expect that Fate Therapeutics Inc (NASDAQ:FATE) will post earnings of ($0.30) per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Fate Therapeutics’ earnings. The lowest EPS estimate is ($0.34) and the highest is ($0.18). Fate Therapeutics posted earnings per share of ($0.37) during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.9%. The company is scheduled to report its next quarterly earnings report on Monday, August 5th.

According to Zacks, analysts expect that Fate Therapeutics will report full-year earnings of ($1.25) per share for the current financial year, with EPS estimates ranging from ($1.38) to ($0.86). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.22) per share, with EPS estimates ranging from ($1.68) to ($0.47). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.07). Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The business had revenue of $2.63 million for the quarter, compared to analyst estimates of $2.01 million. During the same period in the prior year, the firm posted ($0.27) EPS. Fate Therapeutics’s revenue for the quarter was up 156.3% on a year-over-year basis.

Several equities analysts recently weighed in on the company. Guggenheim assumed coverage on Fate Therapeutics in a research report on Thursday, May 30th. They set a “buy” rating and a $25.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $26.00 price target (up previously from $20.00) on shares of Fate Therapeutics in a report on Friday, May 24th. BidaskClub raised Fate Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Zacks Investment Research cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Svb Leerink assumed coverage on Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.89.

Shares of NASDAQ FATE traded down $1.35 during trading hours on Thursday, hitting $17.71. 797,621 shares of the company’s stock were exchanged, compared to its average volume of 696,456. Fate Therapeutics has a 1-year low of $8.64 and a 1-year high of $20.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.40 and a current ratio of 6.40. The stock has a market capitalization of $1.22 billion, a PE ratio of -14.88 and a beta of 1.70.

In other Fate Therapeutics news, insider J Scott Wolchko sold 14,335 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $19.37, for a total value of $277,668.95. Following the completion of the transaction, the insider now owns 389,216 shares of the company’s stock, valued at approximately $7,539,113.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel D. Shoemaker sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $16.94, for a total value of $211,750.00. Following the completion of the transaction, the insider now directly owns 148,091 shares of the company’s stock, valued at approximately $2,508,661.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,376 shares of company stock valued at $979,727. Insiders own 23.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FATE. Vanguard Group Inc. grew its position in Fate Therapeutics by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,448,279 shares of the biopharmaceutical company’s stock worth $39,882,000 after acquiring an additional 275,828 shares during the last quarter. Alps Advisors Inc. grew its position in Fate Therapeutics by 57.7% during the 4th quarter. Alps Advisors Inc. now owns 149,103 shares of the biopharmaceutical company’s stock worth $1,913,000 after acquiring an additional 54,571 shares during the last quarter. Aquilo Capital Management LLC grew its position in Fate Therapeutics by 69.7% during the 3rd quarter. Aquilo Capital Management LLC now owns 984,596 shares of the biopharmaceutical company’s stock worth $16,039,000 after acquiring an additional 404,367 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Fate Therapeutics by 19.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 21,601 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 3,462 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Fate Therapeutics by 45.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 4,260 shares during the last quarter. 93.28% of the stock is owned by institutional investors and hedge funds.

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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