Zacks: Analysts Expect Fate Therapeutics, Inc. (NASDAQ:FATE) Will Post Quarterly Sales of $7.07 …
Wall Street analysts expect Fate Therapeutics, Inc. (NASDAQ:FATE) to report $7.07 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Fate Therapeutics’ earnings. The lowest sales estimate is $5.00 million and the highest is $16.10 million. Fate Therapeutics posted sales of $2.52 million in the same quarter last year, which would indicate a positive year over year growth rate of 180.6%. The firm is expected to report its next earnings results on Monday, May 10th.
According to Zacks, analysts expect that Fate Therapeutics will report full year sales of $27.58 million for the current year, with estimates ranging from $20.00 million to $65.20 million. For the next year, analysts forecast that the firm will report sales of $31.82 million, with estimates ranging from $17.00 million to $69.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Wednesday, February 24th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.23). Fate Therapeutics had a negative return on equity of 35.51% and a negative net margin of 810.13%.
Several analysts have recently commented on FATE shares. Barclays increased their price target on shares of Fate Therapeutics from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, January 15th. Cantor Fitzgerald increased their price target on shares of Fate Therapeutics from $86.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Piper Sandler increased their price target on shares of Fate Therapeutics from $99.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, February 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Fate Therapeutics from $63.00 to $76.00 in a research note on Monday, December 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $135.00 price objective (up from $70.00) on shares of Fate Therapeutics in a report on Tuesday, January 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Fate Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $108.29.
FATE opened at $92.77 on Tuesday. Fate Therapeutics has a one year low of $16.81 and a one year high of $121.16. The company’s 50 day simple moving average is $96.12 and its 200-day simple moving average is $71.37. The stock has a market capitalization of $8.70 billion, a P/E ratio of -50.42 and a beta of 1.88.
In related news, Director Redmile Group, Llc acquired 327,485 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were acquired at an average cost of $85.50 per share, for a total transaction of $27,999,967.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Scott Wolchko sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $103.05, for a total transaction of $3,091,500.00. Following the sale, the chief executive officer now owns 393,793 shares in the company, valued at $40,580,368.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,651 shares of company stock worth $25,943,119. Company insiders own 21.41% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Doheny Asset Management CA raised its holdings in shares of Fate Therapeutics by 2.3% during the fourth quarter. Doheny Asset Management CA now owns 7,850 shares of the biopharmaceutical company’s stock worth $714,000 after acquiring an additional 180 shares during the period. AdvisorNet Financial Inc grew its position in Fate Therapeutics by 83.9% in the fourth quarter. AdvisorNet Financial Inc now owns 570 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 260 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Fate Therapeutics in the fourth quarter valued at $28,000. Los Angeles Capital Management LLC grew its position in Fate Therapeutics by 1.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 30,798 shares of the biopharmaceutical company’s stock valued at $2,800,000 after purchasing an additional 340 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in Fate Therapeutics in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 99.67% 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 Tue, 16 Mar 2021 05:03:45 +0000