Fate Therapeutics, Inc. (NASDAQ:FATE) to Post Q3 2024 Earnings of ($0.46) Per Share, Wedbush Forecasts

Fate Therapeutics, Inc. (NASDAQ:FATE) – Wedbush increased their Q3 2024 earnings per share (EPS) estimates for Fate Therapeutics in a report released on Tuesday, August 13th. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will post earnings of ($0.46) per share for the quarter, up from their previous forecast of ($0.48). Wedbush currently has a “Neutral” rating and a $7.00 price target on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.90) per share. Wedbush also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.36) EPS, FY2024 earnings at ($1.62) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.33) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.36) EPS, FY2026 earnings at ($1.27) EPS, FY2027 earnings at ($1.22) EPS and FY2028 earnings at ($1.13) EPS.

A number of other brokerages have also weighed in on FATE. BMO Capital Markets dropped their price target on Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Piper Sandler upgraded Fate Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $4.00 to $6.00 in a research note on Monday, June 17th. HC Wainwright dropped their price target on Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Finally, Canaccord Genuity Group dropped their price target on Fate Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.73.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $3.40 on Friday. The company has a market capitalization of $387.03 million, a PE ratio of -1.77 and a beta of 1.90. The company has a 50-day simple moving average of $3.91 and a two-hundred day simple moving average of $5.09. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $1.47 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%.

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $1,133,000. Doheny Asset Management CA purchased a new stake in Fate Therapeutics in the 2nd quarter worth approximately $263,000. Algert Global LLC raised its stake in shares of Fate Therapeutics by 318.4% during the 2nd quarter. Algert Global LLC now owns 65,611 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 49,931 shares during the period. Susquehanna Fundamental Investments LLC raised its stake in shares of Fate Therapeutics by 73.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 262,414 shares of the biopharmaceutical company’s stock worth $861,000 after buying an additional 111,293 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Fate Therapeutics during the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

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.