Fate Therapeutics Inc (NASDAQ:FATE) – Stock analysts at Jefferies Financial Group lowered their Q2 2019 EPS estimates for shares of Fate Therapeutics in a report issued on Wednesday, May 8th. Jefferies Financial Group analyst B. Amin now forecasts that the biopharmaceutical company will earn ($0.34) per share for the quarter, down from their previous estimate of ($0.27). Jefferies Financial Group also issued estimates for Fate Therapeutics’ Q3 2019 earnings at ($0.35) EPS, Q4 2019 earnings at ($0.36) EPS, FY2019 earnings at ($1.34) EPS, FY2020 earnings at ($1.21) EPS, FY2021 earnings at ($1.28) EPS, FY2022 earnings at ($1.28) EPS and FY2023 earnings at ($1.45) EPS.
Several other research firms have also commented on FATE. BidaskClub lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. Wells Fargo & Co increased their target price on Fate Therapeutics from $18.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Leerink Swann initiated coverage on Fate Therapeutics in a report on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price on the stock. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Wedbush increased their target price on Fate Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Fate Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $19.63.
Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.07). The business had revenue of $2.63 million during the quarter, compared to analysts’ expectations of $2.01 million. Fate Therapeutics had a negative net margin of 1,138.12% and a negative return on equity of 54.30%. The business’s quarterly revenue was up 156.3% compared to the same quarter last year. During the same period last year, the company earned ($0.27) EPS.
In other Fate Therapeutics news, General Counsel Cindy Tahl sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.15, for a total transaction of $403,750.00. Following the transaction, the general counsel now owns 115,418 shares of the company’s stock, valued at $1,864,000.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO J Scott Wolchko sold 8,541 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $16.17, for a total value of $138,107.97. Following the transaction, the chief executive officer now directly owns 375,973 shares in the company, valued at approximately $6,079,483.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,041 shares of company stock worth $1,507,558. Corporate insiders own 23.19% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Fate Therapeutics by 14.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 39,929 shares of the biopharmaceutical company’s stock valued at $701,000 after acquiring an additional 4,967 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Fate Therapeutics by 1.9% during the 1st quarter. Northern Trust Corp now owns 749,372 shares of the biopharmaceutical company’s stock valued at $13,167,000 after acquiring an additional 13,860 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fate Therapeutics during the 1st quarter valued at $181,000. State of Wisconsin Investment Board lifted its holdings in shares of Fate Therapeutics by 67.6% during the 1st quarter. State of Wisconsin Investment Board now owns 87,000 shares of the biopharmaceutical company’s stock valued at $1,529,000 after acquiring an additional 35,100 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Fate Therapeutics by 108.6% during the 1st quarter. Jennison Associates LLC now owns 487,044 shares of the biopharmaceutical company’s stock valued at $8,557,000 after acquiring an additional 253,540 shares in the last quarter. 91.54% of the stock is currently owned by institutional investors.
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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