$2.07 Million in Sales Expected for Fate Therapeutics Inc (NASDAQ:FATE) This Quarter

Wall Street brokerages expect Fate Therapeutics Inc (NASDAQ:FATE) to post sales of $2.07 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Fate Therapeutics’ earnings. The lowest sales estimate is $630,000.00 and the highest is $3.00 million. Fate Therapeutics reported sales of $2.63 million during the same quarter last year, which indicates a negative year-over-year growth rate of 21.3%. The firm is expected to report its next quarterly earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that Fate Therapeutics will report full-year sales of $8.60 million for the current year, with estimates ranging from $4.00 million to $12.00 million. For the next year, analysts anticipate that the company will post sales of $7.25 million, with estimates ranging from $2.50 million to $13.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, March 2nd. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Fate Therapeutics had a negative net margin of 919.00% and a negative return on equity of 49.94%. The business had revenue of $2.80 million during the quarter, compared to analyst estimates of $1.70 million. During the same period last year, the business earned ($0.25) EPS. Fate Therapeutics’s revenue was up 68.7% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Piper Sandler boosted their price target on shares of Fate Therapeutics from to and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Oppenheimer boosted their price target on shares of Fate Therapeutics from $27.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Mizuho boosted their price target on shares of Fate Therapeutics from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. They noted that the move was a valuation call. Finally, Barclays assumed coverage on shares of Fate Therapeutics in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $40.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.94.

In related news, insider Bahram Valamehr sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $20.69, for a total transaction of $117,933.00. Following the completion of the transaction, the insider now directly owns 91,758 shares in the company, valued at approximately $1,898,473.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Scott Wolchko sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $25.45, for a total value of $636,250.00. Following the transaction, the chief executive officer now owns 444,969 shares of the company’s stock, valued at $11,324,461.05. The disclosure for this sale can be found here. Company insiders own 23.19% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC acquired a new position in shares of Fate Therapeutics in the fourth quarter valued at approximately $39,000. Meeder Asset Management Inc. lifted its holdings in Fate Therapeutics by 46.1% during the 4th quarter. Meeder Asset Management Inc. now owns 2,029 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 640 shares during the last quarter. TFG Advisers LLC bought a new position in Fate Therapeutics during the 4th quarter worth approximately $42,000. Quantbot Technologies LP lifted its holdings in Fate Therapeutics by 1,133.3% during the 4th quarter. Quantbot Technologies LP now owns 3,700 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 3,400 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in Fate Therapeutics during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

NASDAQ:FATE traded down $0.09 during trading hours on Monday, hitting $23.31. 834,442 shares of the stock traded hands, compared to its average volume of 1,120,458. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.10. Fate Therapeutics has a 1 year low of $12.59 and a 1 year high of $32.39. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -16.30 and a beta of 1.71. The stock has a 50 day moving average price of $26.65 and a 200 day moving average price of $20.14.

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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Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

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