Fate Therapeutics (NASDAQ:FATE) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Fate Therapeutics (NASDAQ:FATE) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02, Zacks reports. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%. The business had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million.

Fate Therapeutics Stock Performance

FATE opened at $2.17 on Thursday. The business’s 50-day simple moving average is $3.17 and its 200 day simple moving average is $3.61. Fate Therapeutics has a 52-week low of $2.05 and a 52-week high of $8.83. The firm has a market capitalization of $247.12 million, a PE ratio of -1.32 and a beta of 1.88.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.89.

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.