Fate Therapeutics, Inc. (FATE) Issues Earnings Results
Fate Therapeutics, Inc. (NASDAQ:FATE) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01), Briefing.com reports. The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.95 million. Fate Therapeutics had a negative net margin of 887.68% and a negative return on equity of 67.01%. The firm’s quarterly revenue was up .0% on a year-over-year basis.
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A number of brokerages have issued reports on FATE. HC Wainwright reaffirmed a “buy” rating on shares of Fate Therapeutics in a research note on Thursday. BMO Capital Markets reaffirmed a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Thursday. Leerink Swann reaffirmed an “outperform” rating and set a $7.00 price target on shares of Fate Therapeutics in a research note on Friday, September 8th. Zacks Investment Research raised Fate Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Friday, September 8th. Finally, ValuEngine lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $6.79.
In other Fate Therapeutics news, General Counsel Cindy Tahl sold 8,091 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The shares were sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel D. Shoemaker sold 13,225 shares of Fate Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by insiders.
An institutional investor recently bought a new position in Fate Therapeutics stock. California State Teachers Retirement System purchased a new stake in Fate Therapeutics, Inc. (NASDAQ:FATE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,500 shares of the biopharmaceutical company’s stock, valued at approximately $219,000. California State Teachers Retirement System owned 0.16% of Fate Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 64.27% of the company’s stock.
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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