Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Oppenheimer decreased their FY2019 earnings per share (EPS) estimates for shares of Fate Therapeutics in a note issued to investors on Wednesday, November 6th. Oppenheimer analyst M. Biegler now expects that the biopharmaceutical company will earn ($1.43) per share for the year, down from their previous forecast of ($1.35). Oppenheimer has a “Outperform” rating and a $27.00 price objective on the stock. Oppenheimer also issued estimates for Fate Therapeutics’ Q4 2019 earnings at ($0.37) EPS, Q1 2020 earnings at ($0.42) EPS, Q2 2020 earnings at ($0.44) EPS, Q3 2020 earnings at ($0.47) EPS, Q4 2020 earnings at ($0.48) EPS, FY2020 earnings at ($1.81) EPS, Q1 2021 earnings at ($0.48) EPS, Q2 2021 earnings at ($0.51) EPS, Q3 2021 earnings at ($0.54) EPS, FY2021 earnings at ($2.09) EPS, FY2022 earnings at ($2.19) EPS and FY2023 earnings at ($1.45) EPS.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Fate Therapeutics had a negative net margin of 900.24% and a negative return on equity of 59.38%. The firm had revenue of $2.43 million during the quarter, compared to analysts’ expectations of $1.75 million. During the same quarter last year, the firm earned ($0.31) EPS. The business’s revenue for the quarter was up 136.7% compared to the same quarter last year.
A number of other brokerages also recently commented on FATE. Zacks Investment Research upgraded Fate Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, October 15th. BMO Capital Markets lowered their target price on Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus initiated coverage on Fate Therapeutics in a research note on Monday, September 30th. They issued a “buy” rating and a $27.00 target price on the stock. Wedbush boosted their target price on Fate Therapeutics from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Co downgraded Fate Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $24.00 to $16.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.38.
NASDAQ FATE traded down $0.14 on Friday, reaching $14.42. The stock had a trading volume of 26,527 shares, compared to its average volume of 592,415. The business has a 50 day moving average price of $15.20 and a 200 day moving average price of $17.98. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.28. Fate Therapeutics has a 1 year low of $11.00 and a 1 year high of $22.82. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -12.12 and a beta of 1.81.
A number of large investors have recently made changes to their positions in the stock. Lisanti Capital Growth LLC boosted its stake in Fate Therapeutics by 103.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 125,060 shares of the biopharmaceutical company’s stock valued at $1,942,000 after purchasing an additional 63,445 shares during the period. Boston Advisors LLC raised its holdings in shares of Fate Therapeutics by 61.4% in the 3rd quarter. Boston Advisors LLC now owns 64,186 shares of the biopharmaceutical company’s stock worth $997,000 after buying an additional 24,416 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Fate Therapeutics in the 3rd quarter worth approximately $121,000. First Trust Advisors LP raised its holdings in shares of Fate Therapeutics by 37.4% in the 3rd quarter. First Trust Advisors LP now owns 184,700 shares of the biopharmaceutical company’s stock worth $2,868,000 after buying an additional 50,312 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Fate Therapeutics by 153.6% in the 3rd quarter. California Public Employees Retirement System now owns 152,914 shares of the biopharmaceutical company’s stock worth $2,375,000 after buying an additional 92,628 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
In other Fate Therapeutics news, Director Redmile Group, Llc bought 857,143 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $17.50 per share, for a total transaction of $15,000,002.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bahram Valamehr sold 6,200 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 37,417 shares of company stock valued at $536,649. 23.19% of the stock is currently owned by corporate insiders.
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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