Fate Therapeutics, Inc. Expected to Post Q1 2024 Earnings of ($0.42) Per Share (NASDAQ:FATE)

Fate Therapeutics, Inc. (NASDAQ:FATE) – Investment analysts at Wedbush increased their Q1 2024 earnings per share (EPS) estimates for Fate Therapeutics in a report issued on Monday, May 6th. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings per share of ($0.42) for the quarter, up from their prior forecast of ($0.49). Wedbush has a “Neutral” rating and a $7.00 price target on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Fate Therapeutics’ Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.70) EPS, FY2025 earnings at ($1.47) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.32) EPS.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. The business had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $0.85 million. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. During the same period in the previous year, the business posted ($0.58) earnings per share.

Other analysts have also issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. BMO Capital Markets lifted their price objective on Fate Therapeutics from $6.00 to $7.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. Morgan Stanley increased their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 27th. Barclays raised their target price on Fate Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $6.90.

Fate Therapeutics Price Performance

FATE opened at $3.90 on Wednesday. The company has a market capitalization of $443.89 million, a P/E ratio of -2.38 and a beta of 1.80. The firm’s fifty day moving average price is $6.10 and its two-hundred day moving average price is $4.70. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83.

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FATE. Fox Run Management L.L.C. acquired a new position in shares of Fate Therapeutics during the third quarter worth approximately $25,000. Vanguard Personalized Indexing Management LLC acquired a new position in Fate Therapeutics during the 3rd quarter worth $30,000. Epiq Partners LLC acquired a new position in Fate Therapeutics during the 4th quarter worth $38,000. Brown Advisory Inc. boosted its position in Fate Therapeutics by 53.3% in the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 6,735 shares during the last quarter. Finally, RPO LLC acquired a new stake in shares of Fate Therapeutics in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.