Fate Therapeutics (NASDAQ:FATE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02), Fidelity Earnings reports. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $1.75 million. Fate Therapeutics had a negative return on equity of 50.05% and a negative net margin of 934.70%. The business’s revenue for the quarter was up 136.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS.
NASDAQ FATE traded up $1.48 on Thursday, hitting $14.87. 19,770 shares of the company were exchanged, compared to its average volume of 595,243. The company’s 50 day moving average price is $15.25 and its 200-day moving average price is $17.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.61 and a quick ratio of 5.61. The firm has a market capitalization of $1.00 billion, a P/E ratio of -11.25 and a beta of 1.81. Fate Therapeutics has a twelve month low of $11.00 and a twelve month high of $22.82.
Several equities research analysts recently weighed in on FATE shares. Stifel Nicolaus started coverage on shares of Fate Therapeutics in a report on Monday, September 30th. They issued a “buy” rating and a $27.00 price objective for the company. Cantor Fitzgerald started coverage on shares of Fate Therapeutics in a research report on Monday, July 22nd. They issued an “overweight” rating and a $32.00 target price on the stock. BMO Capital Markets cut their price target on shares of Fate Therapeutics from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday. Oppenheimer initiated coverage on shares of Fate Therapeutics in a report on Friday, July 12th. They issued an “outperform” rating and a $27.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Fate Therapeutics presently has a consensus rating of “Buy” and an average target price of $24.38.
In other Fate Therapeutics news, CEO J Scott Wolchko sold 21,017 shares of Fate Therapeutics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.44, for a total transaction of $303,485.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Redmile Group, Llc purchased 857,143 shares of the stock in a transaction that occurred on 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 disclosure for this purchase can be found here. In the last ninety days, insiders have sold 37,417 shares of company stock worth $536,649. Company insiders own 23.19% of the company’s stock.
Fate Therapeutics Company Profile
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.
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