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.

Several equities analysts recently weighed in on the company. BidaskClub downgraded Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. HC Wainwright reiterated a “hold” rating and set a $12.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Zacks Investment Research upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Jefferies Financial Group assumed coverage on Fate Therapeutics in a research report on Monday, November 5th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Fate Therapeutics in a research report on Tuesday, August 7th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Fate Therapeutics currently has a consensus rating of “Buy” and an average price target of $17.25.

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.

Further Reading: Growth Stocks

Get a free copy of the Zacks research report on Fate Therapeutics (FATE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.