Fate Therapeutics (NASDAQ:FATE) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Fate Therapeutics (NASDAQ:FATE) released its earnings results on Wednesday. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13, Zacks reports. The firm had revenue of $1.86 million during the quarter, compared to the consensus estimate of $1.57 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%.

Fate Therapeutics Price Performance

Shares of FATE opened at $0.90 on Thursday. The company has a 50-day moving average of $1.40 and a two-hundred day moving average of $2.41. The stock has a market cap of $102.05 million, a price-to-earnings ratio of -0.55 and a beta of 2.02. Fate Therapeutics has a one year low of $0.89 and a one year high of $8.83.

Insider Activity

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the transaction, the director now directly owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. StockNews.com upgraded shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday. Finally, Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.86.

Fate Therapeutics Company Profile

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.