Fate Therapeutics (NASDAQ:FATE) Issues Earnings Results

Fate Therapeutics (NASDAQ:FATE) issued its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03, FiscalAI reports. The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative return on equity of 55.47% and a negative net margin of 2,056.79%.

Fate Therapeutics Trading Down 7.6%

Shares of FATE stock traded down $0.15 during trading on Friday, hitting $1.76. The company’s stock had a trading volume of 881,973 shares, compared to its average volume of 1,934,129. The company has a market cap of $204.07 million, a PE ratio of -1.61 and a beta of 2.13. The business has a fifty day moving average of $1.41 and a 200-day moving average of $1.24. Fate Therapeutics has a 52 week low of $0.91 and a 52 week high of $2.47.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC bought a new position in shares of Fate Therapeutics in the fourth quarter valued at approximately $26,000. Bridgeway Capital Management LLC bought a new position in Fate Therapeutics during the second quarter valued at about $28,000. Corient Private Wealth LLC bought a new position in Fate Therapeutics during the fourth quarter valued at about $29,000. The Manufacturers Life Insurance Company bought a new position in Fate Therapeutics during the fourth quarter valued at about $35,000. Finally, Russell Investments Group Ltd. grew its position in Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. 97.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FATE has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. HC Wainwright upped their target price on shares of Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fate Therapeutics has an average rating of “Hold” and an average price target of $5.50.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development of first?in?class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off?the?shelf natural killer (NK) and T?cell products designed to overcome limitations of donor?derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC?derived cell therapy candidates in active clinical development.