Fate Therapeutics Inc. (NASDAQ:FATE) – Investment analysts at Wedbush dropped their FY2016 earnings per share estimates for shares of Fate Therapeutics in a research report issued to clients and investors on Tuesday. Wedbush analyst D. Nierengarten now anticipates that the brokerage will post earnings per share of ($1.18) for the year, down from their previous forecast of ($1.11). Wedbush currently has a “Outperform” rating and a $7.00 target price on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2016 earnings at ($0.33) EPS, Q1 2017 earnings at ($0.22) EPS, Q2 2017 earnings at ($0.23) EPS, Q3 2017 earnings at ($0.24) EPS, Q4 2017 earnings at ($0.19) EPS and FY2017 earnings at ($0.87) EPS.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 112.48% and a negative net margin of 740.69%.

Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Fate Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Thursday, August 11th. HC Wainwright initiated coverage on Fate Therapeutics in a report on Thursday, July 28th. They issued a “buy” rating and a $9.00 price objective for the company. BMO Capital Markets set a $4.00 price objective on Fate Therapeutics and gave the company a “buy” rating in a report on Monday, August 8th. Finally, Roth Capital initiated coverage on Fate Therapeutics in a report on Thursday, September 22nd. They issued a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $5.79.

Fate Therapeutics (NASDAQ:FATE) opened at 2.93 on Thursday. The stock’s 50 day moving average price is $2.58 and its 200 day moving average price is $2.19. The firm’s market cap is $84.66 million. Fate Therapeutics has a 1-year low of $1.46 and a 1-year high of $4.76.

Several large investors have recently made changes to their positions in FATE. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Fate Therapeutics during the second quarter valued at approximately $495,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Fate Therapeutics by 448.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 204,447 shares of the biopharmaceutical company’s stock valued at $368,000 after buying an additional 167,194 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Fate Therapeutics during the second quarter valued at approximately $137,000. Vanguard Group Inc. increased its stake in shares of Fate Therapeutics by 3.5% in the second quarter. Vanguard Group Inc. now owns 657,573 shares of the biopharmaceutical company’s stock valued at $1,118,000 after buying an additional 22,098 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 15,701 shares in the last quarter. 41.14% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:FATE

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