Fate Therapeutics Inc (NASDAQ:FATE) – Research analysts at Svb Leerink issued their FY2019 earnings per share estimates for shares of Fate Therapeutics in a report released on Thursday, March 28th, according to Zacks Investment Research. Svb Leerink analyst D. Graybosch expects that the biopharmaceutical company will earn ($1.17) per share for the year. Svb Leerink currently has a “Outperform” rating and a $20.00 price target on the stock. Svb Leerink also issued estimates for Fate Therapeutics’ FY2020 earnings at ($1.15) EPS, FY2021 earnings at ($1.84) EPS, FY2022 earnings at ($2.20) EPS and FY2023 earnings at ($2.27) EPS.
FATE has been the subject of several other reports. Zacks Investment Research lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Stephens lowered Fate Therapeutics from an “overweight” rating to an “equal” rating in a research note on Thursday, January 3rd. BidaskClub upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Wedbush raised their target price on Fate Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Finally, Leerink Swann started coverage on Fate Therapeutics in a research note on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.63.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Fate Therapeutics had a negative return on equity of 59.04% and a negative net margin of 1,405.06%.
In related news, Director Amir Nashat sold 90,000 shares of Fate Therapeutics stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $14.14, for a total value of $1,272,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.15, for a total value of $403,750.00. Following the completion of the sale, the general counsel now owns 115,418 shares of the company’s stock, valued at $1,864,000.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,058 shares of company stock valued at $4,495,479. 23.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in FATE. Redmile Group LLC increased its position in Fate Therapeutics by 58.9% in the third quarter. Redmile Group LLC now owns 10,576,363 shares of the biopharmaceutical company’s stock worth $172,289,000 after purchasing an additional 3,920,401 shares during the period. BlackRock Inc. increased its position in Fate Therapeutics by 45.0% in the fourth quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after purchasing an additional 1,562,252 shares during the period. Partner Fund Management L.P. acquired a new stake in Fate Therapeutics in the third quarter worth about $24,455,000. FMR LLC increased its position in Fate Therapeutics by 15.3% in the third quarter. FMR LLC now owns 7,637,402 shares of the biopharmaceutical company’s stock worth $124,413,000 after purchasing an additional 1,011,596 shares during the period. Finally, Victory Capital Management Inc. increased its position in Fate Therapeutics by 150.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,318,860 shares of the biopharmaceutical company’s stock worth $16,921,000 after purchasing an additional 791,540 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.
About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy comprising adaptive memory NK cells; FT500, an induced pluripotent stem cell (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516, an iPSC-derived non-cleavable CD16 engineered NK cell product candidate to treat hematologic malignancies and solid tumors; and FT596, a chimeric antigen receptor (CAR) T-cell therapy for patients with hematologic malignancies.
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