Wall Street brokerages expect Fate Therapeutics Inc (NASDAQ:FATE) to report $1.27 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Fate Therapeutics’ earnings. The highest sales estimate is $1.95 million and the lowest is $630,000.00. Fate Therapeutics reported sales of $1.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 23.3%. The business is scheduled to announce its next earnings report on Monday, August 5th.
On average, analysts expect that Fate Therapeutics will report full-year sales of $5.73 million for the current year, with estimates ranging from $2.63 million to $8.08 million. For the next fiscal year, analysts anticipate that the firm will post sales of $10.73 million, with estimates ranging from $1.14 million to $46.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The firm had revenue of $2.63 million for the quarter, compared to the consensus estimate of $2.01 million. Fate Therapeutics had a negative net margin of 1,138.12% and a negative return on equity of 54.30%. The business’s revenue for the quarter was up 156.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) earnings per share.
A number of research firms have recently issued reports on FATE. Cantor Fitzgerald began coverage on Fate Therapeutics in a research report on Monday. They set an “overweight” rating and a $32.00 price objective on the stock. Mizuho began coverage on CytomX Therapeutics in a research report on Wednesday, June 12th. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Svb Leerink initiated coverage on Fate Therapeutics in a research note on Thursday, March 28th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Oppenheimer set a $85.00 price target on Gilead Sciences and gave the company a “buy” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.43.
Shares of FATE traded up $1.11 on Wednesday, reaching $22.48. 667,990 shares of the stock traded hands, compared to its average volume of 718,300. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -18.89 and a beta of 1.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.40 and a current ratio of 6.40. Fate Therapeutics has a 12 month low of $8.64 and a 12 month high of $22.82. The stock’s 50-day moving average is $19.85.
In other Fate Therapeutics news, Director Amir Nashat sold 71,166 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $22.52, for a total value of $1,602,658.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider J Scott Wolchko sold 14,335 shares of the business’s stock in a transaction 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 directly owns 389,216 shares in the company, valued at approximately $7,539,113.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,410 shares of company stock worth $2,614,655. 23.19% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Fate Therapeutics by 45.0% in the fourth quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after purchasing an additional 1,562,252 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Fate Therapeutics by 49.7% in the first quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after purchasing an additional 655,314 shares in the last quarter. Northern Trust Corp boosted its stake in Fate Therapeutics by 17.8% in the fourth quarter. Northern Trust Corp now owns 735,512 shares of the biopharmaceutical company’s stock worth $9,437,000 after purchasing an additional 110,936 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fate Therapeutics by 36.3% in the fourth quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after purchasing an additional 186,927 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Fate Therapeutics by 269.0% in the fourth quarter. Millennium Management LLC now owns 587,640 shares of the biopharmaceutical company’s stock worth $7,539,000 after purchasing an additional 428,399 shares in the last quarter. 93.28% of the stock is currently owned by institutional investors.
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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