FY2021 EPS Estimates for Fate Therapeutics, Inc. (NASDAQ:FATE) Decreased by Cantor Fitzgerald
Fate Therapeutics, Inc. (NASDAQ:FATE) – Stock analysts at Cantor Fitzgerald dropped their FY2021 earnings estimates for shares of Fate Therapeutics in a note issued to investors on Thursday, February 25th. Cantor Fitzgerald analyst A. Young now anticipates that the biopharmaceutical company will post earnings of ($2.27) per share for the year, down from their prior forecast of ($1.93). Cantor Fitzgerald currently has a “Overweight” rating and a $98.00 price target on the stock. Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, February 24th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.23). Fate Therapeutics had a negative net margin of 810.13% and a negative return on equity of 35.51%.
Several other analysts have also recently commented on the stock. Truist raised their target price on shares of Fate Therapeutics from $85.00 to $135.00 in a research note on Friday. Mizuho increased their price objective on Fate Therapeutics from $88.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Barclays upped their price target on shares of Fate Therapeutics from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, January 15th. Bank of America started coverage on shares of Fate Therapeutics in a report on Friday. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Fate Therapeutics from $79.00 to $118.00 and gave the company a “buy” rating in a report on Monday, December 21st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $92.80.
NASDAQ:FATE opened at $89.72 on Monday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -48.76 and a beta of 1.88. The firm’s fifty day moving average price is $103.44 and its 200 day moving average price is $66.74. Fate Therapeutics has a 1-year low of $16.75 and a 1-year high of $121.16.
Several hedge funds and other institutional investors have recently made changes to their positions in FATE. Doheny Asset Management CA increased its holdings in shares of Fate Therapeutics by 2.3% during the 4th quarter. Doheny Asset Management CA now owns 7,850 shares of the biopharmaceutical company’s stock worth $714,000 after buying an additional 180 shares during the last quarter. AdvisorNet Financial Inc grew its position in Fate Therapeutics by 83.9% during the fourth quarter. AdvisorNet Financial Inc now owns 570 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 260 shares during the period. Perigon Wealth Management LLC acquired a new stake in Fate Therapeutics during the fourth quarter worth about $28,000. Los Angeles Capital Management LLC raised its holdings in shares of Fate Therapeutics by 1.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,798 shares of the biopharmaceutical company’s stock worth $2,800,000 after purchasing an additional 340 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $81,000. 99.67% of the stock is owned by institutional investors.
In related news, CEO J Scott Wolchko sold 69,407 shares of the business’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $116.33, for a total value of $8,074,116.31. Following the completion of the sale, the chief executive officer now directly owns 393,065 shares in the company, valued at $45,725,251.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Redmile Group, Llc purchased 327,485 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were bought at an average cost of $85.50 per share, with a total value of $27,999,967.50. The disclosure for this purchase can be found here. In the last three months, insiders have sold 226,651 shares of company stock worth $25,943,119. Corporate insiders own 21.41% 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 NK- and T-cell immuno-oncology programs under development includes FT516 for the treatment of acute myeloid leukemia (AML) and B-cell lymphoma, FT596 to treat B-cell lymphoma and CLL, FT538 to treat AML and multiple myeloma, FT576 to treat multiple myeloma, FT819 to treat B-cell malignancies, and FT-ONO1 to treat hematologic malignancies; and FT500, FT516, and FT-ONO2 for the treatment of advanced solid tumors.
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Published at Mon, 01 Mar 2021 07:14:41 +0000