Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Wedbush lifted their FY2021 earnings per share (EPS) estimates for shares of Fate Therapeutics in a research report issued on Tuesday, Zacks Investment Research reports. Wedbush analyst D. Nierengarten now expects that the biopharmaceutical company will earn $1.61 per share for the year, up from their prior estimate of $1.56. Wedbush currently has a “Outperform” rating and a $10.00 target price on the stock.
Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.02 million. Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The company’s revenue for the quarter was up .0% on a year-over-year basis.
Several other brokerages have also recently commented on FATE. Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a research report on Tuesday, December 12th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Wednesday, December 13th. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Tuesday, January 9th. ValuEngine lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reissued a “top pick” rating and issued a $20.00 price target on shares of Fate Therapeutics in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $13.00.
Shares of Fate Therapeutics (NASDAQ FATE) traded down $0.34 during trading on Wednesday, hitting $11.73. 765,289 shares of the company’s stock traded hands, compared to its average volume of 788,440. The company has a market cap of $689.16, a PE ratio of -11.32 and a beta of 1.65. Fate Therapeutics has a 52 week low of $2.52 and a 52 week high of $14.45. The company has a quick ratio of 9.29, a current ratio of 9.29 and a debt-to-equity ratio of 0.19.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates acquired a new position in Fate Therapeutics in the 4th quarter worth $141,000. The Manufacturers Life Insurance Company boosted its stake in Fate Therapeutics by 61.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,337 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 12,686 shares during the period. Hochman Cole Investment Advisors Inc. acquired a new position in Fate Therapeutics in the 3rd quarter worth $158,000. New York State Common Retirement Fund acquired a new position in Fate Therapeutics in the 2nd quarter worth $131,000. Finally, Russell Investments Group Ltd. acquired a new position in Fate Therapeutics in the 3rd quarter worth $234,000. 66.43% of the stock is owned by hedge funds and other institutional investors.
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About Fate Therapeutics
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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