Wall Street analysts expect Fate Therapeutics, Inc. (NASDAQ:FATE) to report sales of $8.66 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Fate Therapeutics' earnings, with estimates ranging from $5.00 million to $15.00 million. Fate Therapeutics posted sales of $7.56 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 4th.
According to Zacks, analysts expect that Fate Therapeutics will report full-year sales of $41.61 million for the current year, with estimates ranging from $25.00 million to $54.60 million. For the next year, analysts forecast that the firm will report sales of $47.38 million, with estimates ranging from $15.00 million to $87.00 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that follow Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.52) by ($0.06). The firm had revenue of $13.41 million during the quarter, compared to analysts' expectations of $6.90 million. Fate Therapeutics had a negative net margin of 441.63% and a negative return on equity of 27.96%. The firm's revenue was up 145.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS.
Several brokerages recently commented on FATE. HC Wainwright restated a "buy" rating and issued a $121.00 price target on shares of Fate Therapeutics in a research report on Monday, August 23rd. Stifel Nicolaus reiterated a "buy" rating and issued a $116.00 target price on shares of Fate Therapeutics in a research report on Friday, July 9th. Morgan Stanley began coverage on shares of Fate Therapeutics in a research report on Thursday, August 26th. They issued an "equal weight" rating and a $77.00 target price for the company. Finally, SVB Leerink cut their target price on shares of Fate Therapeutics from $120.00 to $118.00 and set an "outperform" rating for the company in a research report on Thursday, August 5th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Fate Therapeutics has a consensus rating of "Buy" and an average price target of $109.00.
Shares of NASDAQ:FATE opened at $71.60 on Friday. The company has a market cap of $6.81 billion, a PE ratio of -30.47 and a beta of 1.63. Fate Therapeutics has a 52 week low of $35.40 and a 52 week high of $121.16. The firm has a 50 day simple moving average of $79.45 and a 200 day simple moving average of $81.39.
In other Fate Therapeutics news, CEO J Scott Wolchko sold 20,000 shares of the firm's stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $88.01, for a total value of $1,760,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Dulac III sold 3,474 shares of Fate Therapeutics stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $88.26, for a total transaction of $306,615.24. Following the sale, the chief financial officer now owns 56,076 shares of the company's stock, valued at approximately $4,949,267.76. The disclosure for this sale can be found here. Insiders have sold a total of 53,474 shares of company stock valued at $4,648,315 over the last ninety days. 18.58% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. lifted its stake in Fate Therapeutics by 82.6% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,025,519 shares of the biopharmaceutical company's stock valued at $87,313,000 after buying an additional 463,924 shares in the last quarter. EFG Asset Management Americas Corp. lifted its position in shares of Fate Therapeutics by 13.3% in the second quarter. EFG Asset Management Americas Corp. now owns 38,803 shares of the biopharmaceutical company's stock worth $3,368,000 after purchasing an additional 4,540 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Fate Therapeutics by 22.3% in the first quarter. Trexquant Investment LP now owns 13,516 shares of the biopharmaceutical company's stock worth $1,114,000 after purchasing an additional 2,461 shares in the last quarter. Sectoral Asset Management Inc increased its holdings in Fate Therapeutics by 43.9% during the first quarter. Sectoral Asset Management Inc now owns 142,500 shares of the biopharmaceutical company's stock worth $11,749,000 after buying an additional 43,500 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in Fate Therapeutics by 14.6% during the first quarter. Guggenheim Capital LLC now owns 105,930 shares of the biopharmaceutical company's stock worth $8,734,000 after buying an additional 13,522 shares during the last quarter. Hedge funds and other institutional investors own 98.36% of the company's stock.
About Fate Therapeutics
Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.
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