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.
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