Equities analysts expect Fate Therapeutics, Inc. (NASDAQ:FATE) to post sales of $1.02 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fate Therapeutics’ earnings. The lowest sales estimate is $1.00 million and the highest is $1.03 million. Fate Therapeutics posted sales of $1.03 million during the same quarter last year, which suggests a negative year over year growth rate of 1%. The firm is expected to report its next earnings results on Thursday, March 15th.
According to Zacks, 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 fiscal year, analysts forecast that the firm will post sales of $5.66 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 research analysts that follow Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Fate Therapeutics had a negative return on equity of 64.55% and a negative net margin of 935.09%. The company had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $0.95 million. The company’s revenue was up .0% compared to the same quarter last year.
Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a research report on Thursday. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Thursday. Zacks Investment Research lowered shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Finally, Leerink Swann reiterated an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Fate Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $6.79.
In other Fate Therapeutics news, General Counsel Cindy Tahl sold 8,091 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.85, for a total transaction of $31,150.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. Corporate insiders own 10.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. KCG Holdings Inc. boosted its position in Fate Therapeutics by 7.8% during 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. New York State Common Retirement Fund purchased a new stake in Fate Therapeutics during the second quarter valued at about $131,000. Rhumbline Advisers purchased a new stake in Fate Therapeutics during the second quarter valued at about $133,000. Driehaus Capital Management LLC purchased a new stake in Fate Therapeutics during the first quarter valued at about $145,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Fate Therapeutics during the second quarter valued at about $214,000. Institutional investors and hedge funds own 64.27% of the company’s stock.
Shares of Fate Therapeutics (FATE) traded up $0.13 during trading hours on Tuesday, reaching $4.82. 309,943 shares of the company traded hands, compared to its average volume of 249,040. The company has a debt-to-equity ratio of 0.32, a current ratio of 7.21 and a quick ratio of 8.93.
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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