Fate Therapeutics, Inc. Forecasted to Post Q1 2024 Earnings of ($0.42) Per Share (NASDAQ:FATE)

Fate Therapeutics, Inc. (NASDAQ:FATE) – Wedbush boosted their Q1 2024 earnings per share estimates for shares of Fate Therapeutics in a report released on Monday, May 6th. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.42) per share for the quarter, up from their previous estimate of ($0.49). Wedbush currently has a “Neutral” rating and a $7.00 target price on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Fate Therapeutics’ Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.70) EPS, FY2025 earnings at ($1.47) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.32) EPS.

Several other brokerages have also weighed in on FATE. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Morgan Stanley raised their target price on Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Finally, BMO Capital Markets raised their price target on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.90.

Fate Therapeutics Price Performance

Fate Therapeutics stock opened at $3.70 on Wednesday. The company has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $4.71. Fate Therapeutics has a 12 month low of $1.63 and a 12 month high of $8.83. The company has a market cap of $421.12 million, a PE ratio of -2.26 and a beta of 1.80.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The business had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.85 million. During the same period last year, the firm earned ($0.58) earnings per share.

Institutional Investors Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Fate Therapeutics in the third quarter worth approximately $156,000. Brown Advisory Inc. raised its position in shares of Fate Therapeutics by 53.3% during the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 6,735 shares during the period. TD Asset Management Inc lifted its holdings in shares of Fate Therapeutics by 100.0% during the third quarter. TD Asset Management Inc now owns 141,652 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 70,826 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Fate Therapeutics by 33.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 426,585 shares of the biopharmaceutical company’s stock worth $904,000 after purchasing an additional 107,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Fate Therapeutics by 281.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,737 shares of the biopharmaceutical company’s stock worth $807,000 after buying an additional 280,895 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.