Q3 2019 EPS Estimates for Fate Therapeutics Inc Cut by Wedbush (FATE)

Fate Therapeutics Inc (NASDAQ:FATE) – Equities research analysts at Wedbush decreased their Q3 2019 earnings estimates for shares of Fate Therapeutics in a research note issued on Wednesday, March 6th. Wedbush analyst D. Nierengarten now expects that the biopharmaceutical company will earn ($0.28) per share for the quarter, down from their prior estimate of ($0.13). Wedbush has a “Outperform” rating and a $21.00 price target on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2019 earnings at ($0.29) EPS, FY2019 earnings at ($1.03) EPS, FY2020 earnings at ($1.07) EPS, FY2021 earnings at ($0.91) EPS and FY2022 earnings at ($0.24) EPS.

Other analysts also recently issued reports about the company. BidaskClub raised Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 12th. Wells Fargo & Co raised their target price on Fate Therapeutics from $18.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday. Zacks Investment Research raised Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Stephens downgraded Fate Therapeutics from an “overweight” rating to an “equal” rating in a research report on Thursday, January 3rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.50.

Shares of FATE opened at $16.11 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 9.44 and a quick ratio of 9.44. The company has a market cap of $931.58 million, a P/E ratio of -13.54 and a beta of 2.06. Fate Therapeutics has a 12 month low of $8.35 and a 12 month high of $17.98.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). Fate Therapeutics had a negative net margin of 1,536.05% and a negative return on equity of 68.57%.

In other news, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction on Monday, February 25th. The stock was sold at an average price of $16.07, for a total value of $401,750.00. Following the completion of the transaction, the general counsel now directly owns 115,418 shares in the company, valued at $1,854,767.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amir Nashat sold 82,528 shares of Fate Therapeutics stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $16.71, for a total value of $1,379,042.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 519,026 shares of company stock valued at $7,733,987. 9.89% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FATE. Bank of America Corp DE boosted its stake in Fate Therapeutics by 245.3% during the second quarter. Bank of America Corp DE now owns 35,911 shares of the biopharmaceutical company’s stock valued at $407,000 after buying an additional 25,511 shares during the period. California Public Employees Retirement System bought a new stake in Fate Therapeutics during the second quarter valued at $193,000. Northern Trust Corp boosted its stake in Fate Therapeutics by 14.4% during the second quarter. Northern Trust Corp now owns 568,272 shares of the biopharmaceutical company’s stock valued at $6,444,000 after buying an additional 71,353 shares during the period. Victory Capital Management Inc. boosted its stake in Fate Therapeutics by 2.5% during the third quarter. Victory Capital Management Inc. now owns 527,320 shares of the biopharmaceutical company’s stock valued at $8,590,000 after buying an additional 12,840 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Fate Therapeutics by 61.2% during the third quarter. Wells Fargo & Company MN now owns 189,563 shares of the biopharmaceutical company’s stock valued at $3,088,000 after buying an additional 71,940 shares during the period. Institutional investors own 85.88% 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. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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

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