Zacks: Brokerages Anticipate Fate Therapeutics Inc (NASDAQ:FATE) Will Post Earnings of -$0.39 Per Share

Analysts forecast that Fate Therapeutics Inc (NASDAQ:FATE) will announce earnings per share of ($0.39) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Fate Therapeutics’ earnings. The highest EPS estimate is ($0.28) and the lowest is ($0.48). Fate Therapeutics posted earnings of ($0.25) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 56%. The firm is expected to report its next quarterly earnings report on Tuesday, March 3rd.

On average, analysts expect that Fate Therapeutics will report full year earnings of ($1.46) per share for the current fiscal year, with EPS estimates ranging from ($1.51) to ($1.41). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.64) per share, with EPS estimates ranging from ($2.23) to ($1.20). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $2.43 million during the quarter, compared to analyst estimates of $1.75 million. Fate Therapeutics had a negative net margin of 900.24% and a negative return on equity of 59.38%. Fate Therapeutics’s quarterly revenue was up 136.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS.

FATE has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on shares of Fate Therapeutics in a research report on Friday, August 9th. They issued a “buy” rating and a $27.00 price objective for the company. Piper Jaffray Companies reduced their price objective on shares of Fate Therapeutics from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. BMO Capital Markets reduced their price objective on shares of Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday. BidaskClub downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Co downgraded shares of Fate Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $24.00 to $16.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Fate Therapeutics presently has a consensus rating of “Buy” and an average target price of $24.38.

FATE stock traded up $0.05 during midday trading on Tuesday, hitting $14.60. The stock had a trading volume of 582,100 shares, compared to its average volume of 729,887. Fate Therapeutics has a 1-year low of $11.00 and a 1-year high of $22.82. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average price of $15.13 and a two-hundred day moving average price of $17.97. The firm has a market cap of $1.03 billion, a P/E ratio of -12.27 and a beta of 1.81.

In related news, Director Redmile Group, Llc bought 857,143 shares of Fate Therapeutics stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $17.50 per share, with a total value of $15,000,002.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Scott Wolchko sold 21,017 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.44, for a total transaction of $303,485.48. The disclosure for this sale can be found here. Insiders have sold a total of 37,417 shares of company stock valued at $536,649 over the last three months. Insiders own 23.19% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of Fate Therapeutics by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 77,815 shares of the biopharmaceutical company’s stock valued at $1,208,000 after acquiring an additional 721 shares during the period. TD Asset Management Inc. lifted its stake in shares of Fate Therapeutics by 4.2% during the 2nd quarter. TD Asset Management Inc. now owns 41,909 shares of the biopharmaceutical company’s stock valued at $851,000 after buying an additional 1,700 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Fate Therapeutics by 72.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,948 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,086 shares in the last quarter. Swiss National Bank lifted its stake in shares of Fate Therapeutics by 2.2% during the 2nd quarter. Swiss National Bank now owns 96,100 shares of the biopharmaceutical company’s stock valued at $1,951,000 after buying an additional 2,100 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Fate Therapeutics by 19.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,263 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 2,763 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

Featured Article: What is the QQQ ETF?

Get a free copy of the Zacks research report on Fate Therapeutics (FATE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.