Fate Therapeutics, Inc. Expected to Post Q2 2024 Earnings of ($0.40) Per Share (NASDAQ:FATE)
Fate Therapeutics, Inc. (NASDAQ:FATE – Free Report) – Research analysts at HC Wainwright raised their Q2 2024 EPS estimates for Fate Therapeutics in a report released on Thursday, May 16th. HC Wainwright analyst R. Burns now expects that the biopharmaceutical company will post earnings per share of ($0.40) for the quarter, up from their previous forecast of ($0.47). HC Wainwright has a “Neutral” rating and a $5.00 price target on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.90) per share. HC Wainwright also issued estimates for Fate Therapeutics’ Q3 2024 earnings at ($0.44) EPS, Q4 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.75) EPS, Q1 2025 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.50) EPS and FY2025 earnings at $1.93 EPS. Fate Therapeutics (NASDAQ:FATE – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.47). Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same period in the prior year, the firm posted ($0.19) EPS. Several other research analysts have also recently issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Thursday, April 11th. Morgan Stanley upped their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 27th. Bank of America upped their target price on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a report on Thursday, March 28th. Finally, Piper Sandler lowered their target price on shares of Fate Therapeutics from $7.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.58. Check Out Our Latest Analysis on Fate Therapeutics Fate Therapeutics Stock Down 5.8 % Shares of FATE opened at $3.90 on Monday. Fate Therapeutics has a 52-week low of $1.63 and a 52-week high of $8.83. The stock has a 50 day moving average price of $5.67 and a 200 day moving average price of $4.84. The company has a market capitalization of $443.94 million, a price-to-earnings ratio of -2.03 and a beta of 1.80. Hedge Funds Weigh In On Fate Therapeutics A number of large investors have recently bought and sold shares of FATE. Victory Capital Management Inc. increased its holdings in shares of Fate Therapeutics by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 2,322 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Fate Therapeutics by 15.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,299 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 7,916 shares in the last quarter. Epiq Partners LLC purchased a new position in shares of Fate Therapeutics in the 4th quarter valued at about $38,000. Simplicity Wealth LLC purchased a new position in shares of Fate Therapeutics in the 1st quarter valued at about $81,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $25,000. Hedge funds and other institutional investors own 97.54% of the company’s stock. About Fate Therapeutics (Get Free Report) 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.
