Fate Therapeutics, Inc. to Post Q1 2024 Earnings of ($0.42) Per Share, Wedbush Forecasts (NASDAQ:FATE)

Fate Therapeutics, Inc. (NASDAQ:FATE) – Analysts at Wedbush lifted their Q1 2024 earnings per share (EPS) estimates for Fate Therapeutics in a note issued to investors on Monday, May 6th. Wedbush analyst D. Nierengarten now expects that the biopharmaceutical company will earn ($0.42) per share for the quarter, up from their previous estimate of ($0.49). Wedbush currently has a “Neutral” rating and a $7.00 target price on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Fate Therapeutics’ Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.70) EPS, FY2025 earnings at ($1.47) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.32) EPS.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $0.85 million. During the same quarter in the prior year, the business earned ($0.58) earnings per share.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Fate Therapeutics from $6.00 to $7.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 27th. Morgan Stanley upped their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 27th. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. HC Wainwright reissued a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Tuesday, March 19th. Finally, Bank of America upped their price target on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Trading Down 8.1 %

Shares of NASDAQ:FATE opened at $3.88 on Wednesday. The firm has a market capitalization of $441.62 million, a PE ratio of -2.37 and a beta of 1.80. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83. The business’s 50 day moving average is $6.23 and its 200-day moving average is $4.71.

Institutional Trading of Fate Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FATE. Epiq Partners LLC acquired a new position in shares of Fate Therapeutics during the fourth quarter valued at $38,000. Simplicity Wealth LLC bought a new stake in Fate Therapeutics during the 1st quarter worth about $81,000. Fox Run Management L.L.C. bought a new position in shares of Fate Therapeutics in the 3rd quarter valued at about $25,000. RPO LLC bought a new position in shares of Fate Therapeutics in the 4th quarter valued at about $46,000. Finally, Victory Capital Management Inc. grew its position in shares of Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 2,322 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.