Fate Therapeutics Inc (NASDAQ:FATE) – Equities researchers at Piper Jaffray Companies decreased their FY2019 earnings per share estimates for shares of Fate Therapeutics in a report released on Tuesday, November 5th. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the biopharmaceutical company will post earnings of ($1.41) per share for the year, down from their previous forecast of ($1.36). Piper Jaffray Companies currently has a “Overweight” rating and a $28.00 target price on the stock. Piper Jaffray Companies also issued estimates for Fate Therapeutics’ Q4 2019 earnings at ($0.35) EPS, Q1 2020 earnings at ($0.35) EPS, Q2 2020 earnings at ($0.37) EPS, Q4 2020 earnings at ($0.41) EPS, FY2020 earnings at ($1.50) EPS, Q1 2021 earnings at ($0.42) EPS, Q2 2021 earnings at ($0.46) EPS, Q3 2021 earnings at ($0.47) EPS and FY2021 earnings at ($1.85) EPS.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $2.43 million for the quarter, compared to analyst estimates of $1.75 million. Fate Therapeutics had a negative net margin of 900.24% and a negative return on equity of 59.38%. The firm’s revenue for the quarter was up 136.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) earnings per share.

Several other equities research analysts have also weighed in on FATE. CIBC began coverage on Fate Therapeutics in a research note on Friday, July 12th. They set an “outperform” rating and a $27.00 price objective for the company. Wedbush raised their price objective on Fate Therapeutics from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Oppenheimer began coverage on Fate Therapeutics in a research note on Friday, July 12th. They set an “outperform” rating and a $27.00 price objective for the company. Zacks Investment Research raised Fate Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, October 15th. Finally, ValuEngine raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.38.

Shares of FATE traded down $0.14 during trading hours on Friday, hitting $14.42. 26,527 shares of the company were exchanged, compared to its average volume of 592,415. The company has a market capitalization of $1.03 billion, a PE ratio of -12.04 and a beta of 1.81. 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 fifty day simple moving average of $15.20 and a 200-day simple moving average of $17.98. Fate Therapeutics has a one year low of $11.00 and a one year high of $22.82.

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of Fate Therapeutics by 0.9% during the third quarter. Rhumbline Advisers now owns 77,815 shares of the biopharmaceutical company’s stock worth $1,208,000 after acquiring an additional 721 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Fate Therapeutics by 4.2% during the second quarter. TD Asset Management Inc. now owns 41,909 shares of the biopharmaceutical company’s stock worth $851,000 after acquiring an additional 1,700 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Fate Therapeutics by 72.9% during the second 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. Swiss National Bank raised its holdings in shares of Fate Therapeutics by 2.2% during the second quarter. Swiss National Bank now owns 96,100 shares of the biopharmaceutical company’s stock worth $1,951,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Fate Therapeutics by 19.1% during the second quarter. Parametric Portfolio Associates LLC now owns 17,263 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 2,763 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

In other Fate Therapeutics news, Director Redmile Group, Llc bought 857,143 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average price of $17.50 per share, with a total value of $15,000,002.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Scott Wolchko sold 21,017 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.44, for a total value of $303,485.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,417 shares of company stock valued at $536,649. 23.19% of the stock is currently owned by insiders.

About Fate Therapeutics

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

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