Fate Therapeutics, Inc. (NASDAQ:FATE) Expected to Post Quarterly Sales of $7.07 Million

Last updated on Saturday, July 24, 2021 | 2021 MarketBeat

Equities analysts expect Fate Therapeutics, Inc. (NASDAQ:FATE) to announce $7.07 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Fate Therapeutics' earnings. The lowest sales estimate is $5.00 million and the highest is $11.30 million. Fate Therapeutics posted sales of $5.47 million in the same quarter last year, which would indicate a positive year over year growth rate of 29.3%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 4th.

On average, analysts expect that Fate Therapeutics will report full-year sales of $33.97 million for the current financial year, with estimates ranging from $26.00 million to $45.20 million. For the next financial year, analysts expect that the firm will report sales of $41.70 million, with estimates ranging from $15.00 million to $89.00 million. Zacks Investment Research's sales averages are a mean average based on a survey of research analysts that that provide coverage for Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Wednesday, May 5th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.06). The company had revenue of $11.14 million for the quarter, compared to analysts' expectations of $7.07 million. Fate Therapeutics had a negative return on equity of 26.48% and a negative net margin of 461.69%.

Several equities research analysts recently weighed in on the company. HC Wainwright upgraded Fate Therapeutics from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a research note on Monday, June 7th. Stifel Nicolaus reiterated a "buy" rating and issued a $116.00 price objective on shares of Fate Therapeutics in a research note on Friday, July 9th. Jefferies Financial Group assumed coverage on Fate Therapeutics in a research note on Monday, April 26th. They issued a "buy" rating and a $145.00 price objective for the company. Finally, Wedbush cut Fate Therapeutics from an "outperform" rating to a "neutral" rating in a research note on Friday, May 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of "Buy" and a consensus price target of $110.89.

NASDAQ FATE opened at $86.19 on Friday. The firm has a market cap of $8.10 billion, a P/E ratio of -40.66 and a beta of 1.67. The firm has a 50-day moving average price of $81.94. Fate Therapeutics has a 1-year low of $29.37 and a 1-year high of $121.16.

In related news, insider Bahram Valamehr sold 25,000 shares of the company's stock in a transaction on Monday, June 14th. The stock was sold at an average price of $89.32, for a total transaction of $2,233,000.00. Following the transaction, the insider now owns 111,896 shares of the company's stock, valued at $9,994,550.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.58% of the company's stock.

A number of institutional investors have recently bought and sold shares of FATE. US Bancorp DE grew its holdings in Fate Therapeutics by 353.9% in the first quarter. US Bancorp DE now owns 522 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 407 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in Fate Therapeutics in the first quarter valued at $122,000. Lazard Asset Management LLC grew its holdings in Fate Therapeutics by 44.0% in the first quarter. Lazard Asset Management LLC now owns 2,280 shares of the biopharmaceutical company's stock valued at $187,000 after purchasing an additional 697 shares during the last quarter. Quilter Plc grew its holdings in Fate Therapeutics by 7.1% in the first quarter. Quilter Plc now owns 2,600 shares of the biopharmaceutical company's stock valued at $214,000 after purchasing an additional 173 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in Fate Therapeutics in the first quarter valued at $220,000. 98.69% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors, as well as ProTmune for the treatment of hematologic malignancies and rare genetic disorders.

Recommended Story: What kind of dividend yield to CEF's pay?

Get a free copy of the Zacks research report on Fate Therapeutics (FATE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: How can investors benefit from after-hours trading?

7 Defensive Stocks to Buy on Market Jitters

Defensive stocks are companies that deliver consistent revenue and earnings regardless of what is happening in the broader economy. This has the effect of allowing these stocks to outperform the market when the economy is in a downturn. But it also means that these stocks are frequently overlooked during bull markets.

After all, for many investors, particularly younger investors, but the benefit of capturing a dividend is far down on their list of priorities. But it’s specifically their ability to serve as a hedge against volatility that makes defensive stocks worthy of consideration in every portfolio.

One characteristic of defensive stocks is they have a high percentage of institutional ownership. These institutions (hedge funds, large investment banks, mutual funds, etc.) are frequently referred to as the “smart money.” By putting their money into these companies it’s a sign that the company is financially sound and likely to perform well.

Defensive stocks can be found in many sectors. In this presentation, we’re giving you one pick from various sectors.

View the "7 Defensive Stocks to Buy on Market Jitters".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.