Analysts Expect Fate Therapeutics Inc (FATE) Will Announce Quarterly Sales of $1.02 Million
Wall Street brokerages expect that Fate Therapeutics Inc (NASDAQ:FATE) will report sales of $1.02 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Fate Therapeutics’ earnings. The highest sales estimate is $1.03 million and the lowest is $1.00 million. Fate Therapeutics reported sales of $1.03 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1%. The firm is expected to report its next earnings report on Monday, March 4th.
According to Zacks, analysts expect that Fate Therapeutics will report full-year sales of $4.09 million for the current year, with estimates ranging from $4.00 million to $4.11 million. For the next fiscal year, analysts anticipate that the company will post sales of $6.01 million, with estimates ranging from $1.53 million to $21.37 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.06). Fate Therapeutics had a negative return on equity of 68.57% and a negative net margin of 1,536.05%. The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.24 million. During the same quarter last year, the company posted ($0.26) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year.
In other news, Director Redmile Group, Llc acquired 3,703,704 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $50,000,004.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.89% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth about $7,770,000. Schwab Charles Investment Management Inc. grew its stake in shares of Fate Therapeutics by 8.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 105,300 shares of the biopharmaceutical company’s stock valued at $1,195,000 after buying an additional 7,800 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Fate Therapeutics by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 290,529 shares of the biopharmaceutical company’s stock valued at $3,294,000 after buying an additional 13,839 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of Fate Therapeutics by 113.7% in the second quarter. First Mercantile Trust Co. now owns 12,899 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 6,863 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Fate Therapeutics by 23.2% in the third quarter. Alps Advisors Inc. now owns 94,532 shares of the biopharmaceutical company’s stock valued at $1,540,000 after buying an additional 17,818 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.
NASDAQ FATE traded up $0.08 during trading hours on Tuesday, hitting $13.08. 437,100 shares of the company’s stock were exchanged, compared to its average volume of 660,047. Fate Therapeutics has a 12-month low of $3.80 and a 12-month high of $16.94. The company has a market capitalization of $827.13 million, a PE ratio of -12.75 and a beta of 1.95. The company has a current ratio of 9.44, a quick ratio of 9.44 and a debt-to-equity ratio of 0.07.
About Fate Therapeutics
Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.
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