$1.02 Million in Sales Expected for Fate Therapeutics Inc (FATE) This Quarter

Brokerages predict that Fate Therapeutics Inc (NASDAQ:FATE) will post sales of $1.02 million for the current fiscal quarter, according to Zacks. Four analysts have issued 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 in the same quarter last year, which would suggest a negative year over year growth rate of 1%. The business is expected to report its next quarterly earnings report on Thursday, March 15th.

On average, analysts expect that Fate Therapeutics will report full year sales of $1.02 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 business will report sales of $5.66 million per share, with estimates ranging from $4.02 million to $12.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $0.95 million. Fate Therapeutics had a negative net margin of 935.09% and a negative return on equity of 64.55%. The business’s revenue for the quarter was up .0% on a year-over-year basis.

A number of research analysts have issued reports on FATE shares. ValuEngine upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Raymond James Financial reiterated a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Thursday, November 2nd. Zacks Investment Research lowered shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies initiated coverage on shares of Fate Therapeutics in a report on Monday, December 18th. They set an “overweight” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $7.64.

Fate Therapeutics (NASDAQ FATE) opened at $6.70 on Thursday. The stock has a market cap of $341.58, a PE ratio of -7.05 and a beta of 1.52. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.32. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $7.25.

In other news, General Counsel Cindy Tahl sold 8,091 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $3.85, for a total transaction of $31,150.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel D. Shoemaker sold 13,225 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $3.87, for a total transaction of $51,180.75. The disclosure for this sale can be found here. Corporate insiders own 10.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $131,000. Rhumbline Advisers acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $133,000. Hochman Cole Investment Advisors Inc. acquired a new stake in Fate Therapeutics during the 3rd quarter worth approximately $158,000. Schwab Charles Investment Management Inc. acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $214,000. Finally, California State Teachers Retirement System acquired a new stake in Fate Therapeutics during the 2nd quarter worth approximately $219,000. 49.85% of the stock is owned by hedge funds and other institutional investors.

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About Fate Therapeutics

Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.

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

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