Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Piper Jaffray Companies decreased their FY2019 EPS estimates for shares of Fate Therapeutics in a research note issued on Tuesday, November 5th. Piper Jaffray Companies analyst E. Tenthoff now expects that the biopharmaceutical company will earn ($1.41) per share for the year, down from their previous estimate of ($1.36). Piper Jaffray Companies currently has a “Overweight” rating and a $28.00 target price on the stock. Piper Jaffray Companies also issued estimates for Fate Therapeutics’ Q4 2019 earnings at ($0.35) EPS, Q1 2020 earnings at ($0.35) EPS, Q2 2020 earnings at ($0.37) EPS, Q4 2020 earnings at ($0.41) EPS, FY2020 earnings at ($1.50) EPS, Q1 2021 earnings at ($0.42) EPS, Q2 2021 earnings at ($0.46) EPS, Q3 2021 earnings at ($0.47) EPS and FY2021 earnings at ($1.85) EPS.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer initiated coverage on Fate Therapeutics in a research note on Friday, July 12th. They issued an “outperform” rating and a $27.00 target price for the company. Stifel Nicolaus initiated coverage on Fate Therapeutics in a research note on Monday, September 30th. They issued a “buy” rating and a $27.00 target price for the company. Wedbush raised their target price on Fate Therapeutics from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lowered their target price on Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $24.38.
Shares of FATE stock opened at $14.60 on Friday. The firm has a market cap of $1.03 billion, a P/E ratio of -12.27 and a beta of 1.81. Fate Therapeutics has a fifty-two week low of $11.00 and a fifty-two week high of $22.82. The business’s 50 day moving average price is $15.13 and its 200-day moving average price is $17.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.61 and a current ratio of 5.61.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The business had revenue of $2.43 million during the quarter, compared to the consensus estimate of $1.75 million. Fate Therapeutics had a negative return on equity of 59.38% and a negative net margin of 900.24%. Fate Therapeutics’s quarterly revenue was up 136.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share.
A number of large investors have recently made changes to their positions in FATE. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Fate Therapeutics during the second quarter valued at $10,329,000. Nikko Asset Management Americas Inc. purchased a new position in Fate Therapeutics during the second quarter valued at $10,329,000. First Trust Advisors LP purchased a new position in Fate Therapeutics during the second quarter valued at $2,728,000. ARK Investment Management LLC purchased a new position in Fate Therapeutics during the second quarter valued at $4,508,000. Finally, Aperio Group LLC purchased a new position in Fate Therapeutics during the second quarter valued at $79,000. Institutional investors and hedge funds own 97.19% of the company’s stock.
In other Fate Therapeutics news, General Counsel Cindy Tahl sold 10,200 shares of Fate Therapeutics stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.24, for a total transaction of $145,248.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Redmile Group, Llc acquired 857,143 shares of the stock in a transaction on Monday, September 16th. The shares were bought at an average price of $17.50 per share, with a total value of $15,000,002.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 37,417 shares of company stock valued at $536,649. 23.19% of the stock is currently owned by company insiders.
Fate Therapeutics Company Profile
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.