Wall Street analysts expect that Fate Therapeutics, Inc. (NASDAQ:FATE) will post sales of $1.02 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fate Therapeutics’ earnings, with estimates ranging from $1.00 million to $1.03 million. Fate Therapeutics reported sales of $1.03 million in the same quarter last year, which indicates a negative year over year growth rate of 1%. The business is expected to report its next earnings results on Monday, August 14th.
On average, analysts expect that Fate Therapeutics will report full-year sales of $1.02 million for the current year, with estimates ranging from $3.00 million to $4.11 million. For the next financial year, analysts anticipate that the business will report sales of $6.71 million per share, with estimates ranging from $4.02 million to $12.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by $0.03. The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.04 million. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%.
Separately, Wedbush reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, May 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $6.25.
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Fate Therapeutics (NASDAQ FATE) opened at 2.79 on Friday. The stock’s market capitalization is $115.51 million. The firm’s 50 day moving average is $3.12 and its 200 day moving average is $3.69. Fate Therapeutics has a 1-year low of $1.80 and a 1-year high of $5.68.
Several hedge funds have recently modified their holdings of the company. Creative Planning boosted its stake in shares of Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6,000 shares during the period. KCG Holdings Inc. boosted its stake in shares of Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,764 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Fate Therapeutics during the first quarter valued at about $145,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Fate Therapeutics during the first quarter valued at about $160,000. Finally, Segantii Capital Management Ltd purchased a new stake in shares of Fate Therapeutics during the first quarter valued at about $182,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.
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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