Fate Therapeutics Inc (NASDAQ:FATE) – Stock analysts at Piper Jaffray Companies reduced their Q2 2019 earnings per share (EPS) estimates for Fate Therapeutics in a research report issued on Wednesday, May 8th. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the biopharmaceutical company will earn ($0.32) per share for the quarter, down from their previous forecast of ($0.29). Piper Jaffray Companies also issued estimates for Fate Therapeutics’ Q3 2019 earnings at ($0.34) EPS, Q4 2019 earnings at ($0.36) EPS, FY2019 earnings at ($1.33) EPS, Q1 2020 earnings at ($0.38) EPS, Q2 2020 earnings at ($0.41) EPS, Q3 2020 earnings at ($0.43) EPS, Q4 2020 earnings at ($0.46) EPS and FY2020 earnings at ($1.68) EPS.
A number of other research firms have also commented on FATE. BidaskClub upgraded shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 12th. Svb Leerink assumed coverage on shares of Fate Therapeutics in a research report on Thursday, March 28th. They set an “outperform” rating and a $20.00 price target for the company. Leerink Swann assumed coverage on shares of Fate Therapeutics in a research report on Thursday, March 28th. They set an “outperform” rating and a $20.00 price target for the company. Wells Fargo & Co boosted their price target on shares of Fate Therapeutics from $18.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Finally, Wedbush boosted their price target on shares of Fate Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Fate Therapeutics has an average rating of “Buy” and an average target price of $19.63.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The firm had revenue of $2.63 million for the quarter, compared to analysts’ expectations of $2.01 million. Fate Therapeutics had a negative net margin of 1,405.06% and a negative return on equity of 59.04%. The firm’s revenue for the quarter was up 156.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) earnings per share.
A number of institutional investors have recently bought and sold shares of FATE. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fate Therapeutics by 61.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,464 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Fate Therapeutics by 248.5% in the first quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 2,015 shares during the last quarter. Creative Planning bought a new stake in Fate Therapeutics in the fourth quarter worth $141,000. Legal & General Group Plc lifted its stake in Fate Therapeutics by 48.6% in the fourth quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 3,719 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Fate Therapeutics in the first quarter worth $169,000. 91.54% of the stock is owned by institutional investors and hedge funds.
In other news, insider J Scott Wolchko sold 20,000 shares of Fate Therapeutics stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $17.61, for a total transaction of $352,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.15, for a total transaction of $403,750.00. Following the sale, the general counsel now directly owns 115,418 shares of the company’s stock, valued at $1,864,000.70. The disclosure for this sale can be found here. Insiders have sold a total of 91,041 shares of company stock valued at $1,507,558 over the last ninety days. 23.19% of the stock is currently owned by insiders.
Fate Therapeutics Company Profile
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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