Fate Therapeutics (NASDAQ:FATE) Releases Earnings Results

Fate Therapeutics (NASDAQ:FATE) issued its earnings results on Wednesday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03, FiscalAI reports. Fate Therapeutics had a negative return on equity of 55.02% and a negative net margin of 2,051.08%.The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.49 million.

Fate Therapeutics Stock Down 6.0%

NASDAQ FATE traded down $0.13 during trading on Wednesday, hitting $2.12. The stock had a trading volume of 3,973,985 shares, compared to its average volume of 1,909,483. The company has a market capitalization of $246.05 million, a PE ratio of -1.84 and a beta of 2.13. The firm has a 50 day moving average price of $1.38 and a 200 day moving average price of $1.24. Fate Therapeutics has a twelve month low of $0.91 and a twelve month high of $2.46.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $26,000. Bridgeway Capital Management LLC purchased a new position in Fate Therapeutics in the 2nd quarter valued at approximately $28,000. Corient Private Wealth LLC purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $29,000. The Manufacturers Life Insurance Company purchased a new position in Fate Therapeutics in the 4th quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. boosted its position in 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 buying an additional 12,114 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. HC Wainwright raised their target price on Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Weiss Ratings downgraded Fate Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Fate Therapeutics has an average rating of “Hold” and an average price target of $4.50.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.