Zacks: Analysts Expect Fate Therapeutics, Inc. (NASDAQ:FATE) Will Post Quarterly Sales of $13.12 Million

Analysts expect Fate Therapeutics, Inc. (NASDAQ:FATE – Get Rating) to announce $13.12 million in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Fate Therapeutics’ earnings, with the highest sales estimate coming in at $20.00 million and the lowest estimate coming in at $4.00 million. Fate Therapeutics posted sales of $13.41 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.2%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Fate Therapeutics will report full year sales of $56.81 million for the current fiscal year, with estimates ranging from $30.00 million to $78.41 million. For the next year, analysts forecast that the company will post sales of $74.48 million, with estimates ranging from $27.51 million to $172.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE – Get Rating) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.08. The company had revenue of $18.40 million for the quarter, compared to the consensus estimate of $9.01 million. Fate Therapeutics had a negative net margin of 368.76% and a negative return on equity of 34.89%. The firm’s revenue for the quarter was up 65.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.48) earnings per share.

A number of brokerages recently issued reports on FATE. StockNews.com upgraded Fate Therapeutics to a “sell” rating in a report on Thursday, March 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Fate Therapeutics in a research note on Friday, April 1st. Truist Financial dropped their price target on Fate Therapeutics from $125.00 to $75.00 in a research note on Wednesday, April 13th. Wedbush boosted their price objective on shares of Fate Therapeutics from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, March 1st. Finally, HC Wainwright dropped their target price on shares of Fate Therapeutics from $122.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $87.22.

In other Fate Therapeutics news, CEO J Scott Wolchko sold 30,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the transaction, the chief executive officer now owns 431,546 shares in the company, valued at approximately $15,104,110. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Cindy Tahl sold 25,000 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $38.85, for a total transaction of $971,250.00. Following the sale, the general counsel now directly owns 189,151 shares in the company, valued at approximately $7,348,516.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,624 shares of company stock worth $3,270,224. Insiders own 18.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its stake in Fate Therapeutics by 21.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,799 shares of the biopharmaceutical company’s stock valued at $1,744,000 after buying an additional 5,201 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Fate Therapeutics during the third quarter valued at $1,180,000. Victory Capital Management Inc. lifted its holdings in Fate Therapeutics by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 955,312 shares of the biopharmaceutical company’s stock valued at $55,895,000 after acquiring an additional 43,132 shares during the period. Cubist Systematic Strategies LLC boosted its position in Fate Therapeutics by 331.1% in the third quarter. Cubist Systematic Strategies LLC now owns 81,034 shares of the biopharmaceutical company’s stock worth $4,803,000 after purchasing an additional 62,238 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Fate Therapeutics by 14.6% during the 3rd quarter. Voya Investment Management LLC now owns 239,875 shares of the biopharmaceutical company’s stock valued at $14,217,000 after purchasing an additional 30,588 shares during the period.

FATE stock opened at $21.83 on Thursday. The firm’s 50-day moving average price is $33.55 and its two-hundred day moving average price is $42.56. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -8.98 and a beta of 1.69. Fate Therapeutics has a 12-month low of $20.49 and a 12-month high of $97.43.

Fate Therapeutics Company Profile (Get Rating)

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 include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

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