Fate Therapeutics Inc (FATE) Expected to Post Quarterly Sales of $2.94 Million

Analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to report sales of $2.94 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Fate Therapeutics’ earnings, with the highest sales estimate coming in at $5.65 million and the lowest estimate coming in at $1.00 million. Fate Therapeutics posted sales of $1.03 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 185.4%. The company is expected to report its next earnings report on Thursday, May 9th.

On average, analysts expect that Fate Therapeutics will report full year sales of $6.87 million for the current fiscal year, with estimates ranging from $4.00 million to $9.04 million. For the next year, analysts expect that the firm will report sales of $13.10 million, with estimates ranging from $4.10 million to $46.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). Fate Therapeutics had a negative net margin of 1,405.06% and a negative return on equity of 59.04%.

A number of equities analysts have recently weighed in on the company. BidaskClub lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Wells Fargo & Co upped their target price on Fate Therapeutics from $18.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Wedbush upped their target price on Fate Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, February 11th. Stephens lowered Fate Therapeutics from an “overweight” rating to an “equal” rating in a research report on Thursday, January 3rd. Finally, Svb Leerink assumed coverage on Fate Therapeutics in a research report on Thursday, March 28th. They set an “outperform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fate Therapeutics presently has an average rating of “Buy” and an average target price of $19.63.

FATE stock traded up $0.41 during trading on Tuesday, hitting $16.02. The company had a trading volume of 485,807 shares, compared to its average volume of 657,229. Fate Therapeutics has a one year low of $8.35 and a one year high of $19.11. The stock has a market capitalization of $1.04 billion, a PE ratio of -13.46 and a beta of 2.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.53 and a quick ratio of 7.53.

In other Fate Therapeutics news, insider J Scott Wolchko sold 20,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $17.61, for a total value of $352,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel D. Shoemaker sold 12,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $16.94, for a total value of $211,750.00. Following the completion of the transaction, the insider now owns 148,091 shares of the company’s stock, valued at approximately $2,508,661.54. The disclosure for this sale can be found here. Insiders sold a total of 295,517 shares of company stock valued at $4,357,371 over the last three months. 23.19% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. grew its stake in Fate Therapeutics by 248.5% in the 1st quarter. Meeder Asset Management Inc. now owns 2,826 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 2,015 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Fate Therapeutics by 61.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 1,464 shares during the period. Creative Planning bought a new position in Fate Therapeutics in the 4th quarter valued at $141,000. Legal & General Group Plc grew its stake in Fate Therapeutics by 48.6% in the 4th quarter. Legal & General Group Plc now owns 11,376 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 3,719 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Fate Therapeutics by 45.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock valued at $176,000 after purchasing an additional 4,260 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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Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

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