Fate Therapeutics (NASDAQ:FATE) Issues Quarterly Earnings Results

Fate Therapeutics (NASDAQ:FATE) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04, Zacks reports. Fate Therapeutics had a negative net margin of 2,025.05% and a negative return on equity of 50.95%. The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.63 million.

Fate Therapeutics Price Performance

Fate Therapeutics stock traded down $0.04 during trading on Thursday, reaching $1.01. 1,524,159 shares of the company were exchanged, compared to its average volume of 2,082,197. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $3.50. The stock’s 50 day simple moving average is $1.23 and its two-hundred day simple moving average is $1.19. The company has a market capitalization of $115.91 million, a P/E ratio of -0.69 and a beta of 2.42.

Analysts Set New Price Targets

FATE has been the subject of a number of recent research reports. Wedbush upgraded Fate Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $5.00 to $7.00 in a research note on Monday, October 27th. Wall Street Zen downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Monday, October 27th. Wells Fargo & Company dropped their price objective on Fate Therapeutics from $4.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 13th. Finally, HC Wainwright raised Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.92.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 12,114 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Fate Therapeutics in the second quarter valued at approximately $28,000. Vanguard Group Inc. increased its stake in Fate Therapeutics by 0.4% in the third quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock valued at $11,086,000 after purchasing an additional 31,727 shares during the last quarter. Jane Street Group LLC raised its holdings in Fate Therapeutics by 106.9% during the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 32,911 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Fate Therapeutics by 19.6% during the 2nd quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 41,869 shares during the last quarter. Institutional investors and hedge funds 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.