Analysts Anticipate Fate Therapeutics Inc (NASDAQ:FATE) Will Post Quarterly Sales of $1.92 Million

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Equities analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to post sales of $1.92 million for the current quarter, according to Zacks. Six analysts have issued estimates for Fate Therapeutics’ earnings, with the lowest sales estimate coming in at $630,000.00 and the highest estimate coming in at $2.82 million. Fate Therapeutics reported sales of $1.03 million during the same quarter last year, which indicates a positive year-over-year growth rate of 86.4%. The company is expected to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Fate Therapeutics will report full-year sales of $8.39 million for the current year, with estimates ranging from $5.00 million to $11.08 million. For the next fiscal year, analysts forecast that the firm will post sales of $11.53 million, with estimates ranging from $1.14 million to $46.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.04). The company had revenue of $2.80 million for the quarter, compared to analysts’ expectations of $1.09 million. Fate Therapeutics had a negative return on equity of 50.05% and a negative net margin of 934.70%. The business’s revenue for the quarter was up 180.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.37) EPS.

FATE has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, October 15th. Mizuho reaffirmed a “buy” rating and set a $27.00 price objective on shares of Fate Therapeutics in a research report on Wednesday, September 4th. ValuEngine raised shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Piper Jaffray Companies lowered their price objective on shares of Fate Therapeutics from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Wedbush increased their price objective on shares of Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.47.

In other Fate Therapeutics news, Director Amir Nashat sold 81,899 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $22.51, for a total value of $1,843,546.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bahram Valamehr sold 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.18, for a total transaction of $87,916.00. The disclosure for this sale can be found here. Insiders sold a total of 327,483 shares of company stock valued at $7,066,997 in the last three months. 23.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in shares of Fate Therapeutics during the 2nd quarter worth $79,000. Bank of Montreal Can raised its stake in Fate Therapeutics by 43,680.0% during the 2nd quarter. Bank of Montreal Can now owns 4,378 shares of the biopharmaceutical company’s stock worth $89,000 after acquiring an additional 4,368 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Fate Therapeutics by 72.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,948 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,086 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Fate Therapeutics by 257.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 10,108 shares of the biopharmaceutical company’s stock worth $205,000 after acquiring an additional 7,282 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Fate Therapeutics during the 2nd quarter worth $270,000. 96.59% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:FATE traded up $0.91 during mid-day trading on Wednesday, reaching $14.54. 565,511 shares of the company were exchanged, compared to its average volume of 736,844. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.61 and a quick ratio of 5.61. The firm has a market cap of $915.46 million, a price-to-earnings ratio of -12.22 and a beta of 1.79. The firm’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $18.14. Fate Therapeutics has a 1 year low of $11.00 and a 1 year high of $22.82.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

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