Wall Street analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to report $1.92 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Fate Therapeutics’ earnings, with the lowest sales estimate coming in at $630,000.00 and the highest estimate coming in at $2.82 million. Fate Therapeutics posted sales of $1.03 million in the same quarter last year, which would indicate a positive year over year growth rate of 86.4%. The business is scheduled to report its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Fate Therapeutics will report full year sales of $8.74 million for the current fiscal year, with estimates ranging from $6.00 million to $11.08 million. For the next financial year, analysts anticipate that the business will report sales of $11.53 million, with estimates ranging from $1.14 million to $46.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Fate Therapeutics.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.04). Fate Therapeutics had a negative net margin of 934.70% and a negative return on equity of 50.05%. The firm had revenue of $2.80 million during the quarter, compared to analyst estimates of $1.09 million. During the same period last year, the business posted ($0.37) earnings per share. The firm’s quarterly revenue was up 180.0% on a year-over-year basis.
In other news, Director Amir Nashat sold 62,005 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.53, for a total transaction of $1,396,972.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider J Scott Wolchko sold 14,335 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $19.37, for a total transaction of $277,668.95. Following the sale, the insider now owns 389,216 shares of the company’s stock, valued at approximately $7,539,113.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 409,476 shares of company stock worth $9,145,002. Insiders own 23.19% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its position in shares of Fate Therapeutics by 19.1% during the second 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 during the period. Pictet Asset Management Ltd. purchased a new position in shares of Fate Therapeutics during the second quarter valued at about $7,012,000. Northern Trust Corp increased its position in shares of Fate Therapeutics by 0.4% during the second quarter. Northern Trust Corp now owns 752,696 shares of the biopharmaceutical company’s stock valued at $15,280,000 after buying an additional 3,324 shares during the period. Jennison Associates LLC increased its position in shares of Fate Therapeutics by 12.5% during the second quarter. Jennison Associates LLC now owns 547,922 shares of the biopharmaceutical company’s stock valued at $11,123,000 after buying an additional 60,878 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Fate Therapeutics by 43,680.0% during the second quarter. Bank of Montreal Can now owns 4,378 shares of the biopharmaceutical company’s stock valued at $89,000 after buying an additional 4,368 shares during the period. Institutional investors own 95.96% of the company’s stock.
Shares of FATE traded up $0.28 during trading hours on Thursday, reaching $18.26. The stock had a trading volume of 512,198 shares, compared to its average volume of 719,358. Fate Therapeutics has a 12 month low of $10.69 and a 12 month high of $22.82. The company has a market cap of $1.18 billion, a PE ratio of -15.34 and a beta of 1.64. 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 stock has a 50-day moving average price of $20.84.
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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