Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Piper Jaffray Companies raised their Q3 2019 earnings estimates for shares of Fate Therapeutics in a report issued on Sunday, September 15th. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the biopharmaceutical company will post earnings per share of ($0.36) for the quarter, up from their prior estimate of ($0.37). Piper Jaffray Companies currently has a “Overweight” rating and a $28.00 price target on the stock. Piper Jaffray Companies also issued estimates for Fate Therapeutics’ Q4 2019 earnings at ($0.34) EPS, FY2019 earnings at ($1.36) EPS, Q1 2020 earnings at ($0.36) EPS, Q2 2020 earnings at ($0.38) EPS, Q3 2020 earnings at ($0.38) EPS, Q4 2020 earnings at ($0.42) EPS and FY2020 earnings at ($1.53) EPS.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $2.80 million during the quarter, compared to the consensus estimate of $1.09 million. Fate Therapeutics had a negative net margin of 934.70% and a negative return on equity of 50.05%. The business’s revenue was up 180.0% compared to the same quarter last year. During the same period last year, the company earned ($0.37) earnings per share.
A number of other analysts have also recently commented on FATE. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 10th. BidaskClub cut Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Citigroup reaffirmed a “buy” rating and issued a $26.00 price target (up from $20.00) on shares of Fate Therapeutics in a research note on Friday, May 24th. Wedbush increased their target price on Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets set a $27.00 target price on Fate Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Fate Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $24.87.
Shares of FATE stock opened at $16.99 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.61 and a quick ratio of 5.61. The stock has a market cap of $1.17 billion, a PE ratio of -14.28 and a beta of 1.83. The stock has a 50-day moving average of $18.31 and a 200-day moving average of $18.43. Fate Therapeutics has a one year low of $11.00 and a one year high of $22.82.
A number of large investors have recently added to or reduced their stakes in FATE. Victory Capital Management Inc. boosted its position in Fate Therapeutics by 48.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,927,930 shares of the biopharmaceutical company’s stock worth $59,437,000 after acquiring an additional 953,756 shares during the last quarter. Nikko Asset Management Americas Inc. acquired a new position in Fate Therapeutics during the 2nd quarter worth approximately $10,329,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Fate Therapeutics during the 2nd quarter worth approximately $10,329,000. Pictet Asset Management Ltd. acquired a new position in Fate Therapeutics during the 2nd quarter worth approximately $7,012,000. Finally, Wells Fargo & Company MN boosted its position in Fate Therapeutics by 240.0% during the 2nd quarter. Wells Fargo & Company MN now owns 479,015 shares of the biopharmaceutical company’s stock worth $9,725,000 after acquiring an additional 338,130 shares during the last quarter. 96.59% of the stock is owned by hedge funds and other institutional investors.
In other Fate Therapeutics news, Director Redmile Group, Llc bought 857,143 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $17.50 per share, with a total value of $15,000,002.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amir Nashat sold 62,005 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.53, for a total value of $1,396,972.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 395,141 shares of company stock valued at $8,867,333. 23.19% of the stock is owned by company 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.