$1.01 Million in Sales Expected for Fate Therapeutics, Inc. (FATE) This Quarter
Wall Street analysts expect that Fate Therapeutics, Inc. (NASDAQ:FATE) will report $1.01 million in sales for the current quarter, Zacks Investment Research reports. 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 during the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The business is scheduled to issue its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Fate Therapeutics will report full year sales of $1.01 million for the current fiscal year, with estimates ranging from $3.00 million to $4.11 million. For the next financial year, analysts forecast that the company will post sales of $6.06 million per share, with estimates ranging from $4.02 million to $12.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.01. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%. The business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $1.02 million.
Several research analysts have recently weighed in on the stock. Leerink Swann reissued an “outperform” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Friday, September 8th. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Friday, September 8th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Thursday. Finally, ValuEngine cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $6.79.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EcoR1 Capital LLC purchased a new position in shares of Fate Therapeutics during the first quarter valued at approximately $11,543,000. Wells Fargo & Company MN raised its holdings in shares of Fate Therapeutics by 926.7% during the first quarter. Wells Fargo & Company MN now owns 281,111 shares of the biopharmaceutical company’s stock valued at $1,279,000 after purchasing an additional 253,732 shares during the last quarter. Morgan Stanley raised its holdings in shares of Fate Therapeutics by 9.8% during the first quarter. Morgan Stanley now owns 611,646 shares of the biopharmaceutical company’s stock valued at $2,783,000 after purchasing an additional 54,615 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Fate Therapeutics during the first quarter valued at approximately $145,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Fate Therapeutics during the first quarter valued at approximately $312,000. 64.27% of the stock is owned by hedge funds and other institutional investors.
Fate Therapeutics (FATE) traded up 4.501% on Thursday, hitting $4.295. 120,901 shares of the stock were exchanged. Fate Therapeutics has a 12 month low of $1.80 and a 12 month high of $5.68. The company has a 50-day moving average of $3.97 and a 200-day moving average of $3.68. The stock’s market cap is $177.88 million.
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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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