Wedbush Comments on Fate Therapeutics Inc’s FY2018 Earnings (FATE)

Fate Therapeutics Inc (NASDAQ:FATE) – Equities researchers at Wedbush issued their FY2018 earnings per share (EPS) estimates for Fate Therapeutics in a report issued on Monday, February 11th. Wedbush analyst D. Nierengarten forecasts that the biopharmaceutical company will post earnings of ($1.05) per share for the year. Wedbush currently has a “Outperform” rating and a $21.00 target price on the stock. Wedbush also issued estimates for Fate Therapeutics’ Q4 2018 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.13) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.74) EPS, FY2020 earnings at ($1.12) EPS, FY2021 earnings at ($0.86) EPS and FY2022 earnings at ($0.21) EPS.

FATE has been the subject of a number of other research reports. Zacks Investment Research cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Stephens cut shares of Fate Therapeutics from an “overweight” rating to an “equal” rating in a research note on Thursday, January 3rd. BidaskClub cut shares of Fate Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 20th. Finally, Jefferies Financial Group began coverage on shares of Fate Therapeutics in a research note on Monday, November 5th. They set a “buy” rating and a $17.00 target price for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.86.

NASDAQ FATE opened at $14.71 on Wednesday. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 0.07. The stock has a market cap of $969.05 million, a PE ratio of -14.42 and a beta of 2.06. Fate Therapeutics has a 52-week low of $7.70 and a 52-week high of $17.98.

In other Fate Therapeutics news, General Counsel Cindy Tahl sold 25,000 shares of Fate Therapeutics stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the sale, the general counsel now owns 47,426 shares in the company, valued at approximately $758,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amir Nashat sold 53,017 shares of Fate Therapeutics stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $14.16, for a total transaction of $750,720.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,026 shares of company stock valued at $6,928,487. 9.89% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fate Therapeutics by 61.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,865 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,464 shares in the last quarter. Jane Street Group LLC acquired a new stake in Fate Therapeutics in the 2nd quarter worth about $116,000. Creative Planning acquired a new stake in Fate Therapeutics in the 4th quarter worth about $141,000. Partner Investment Management L.P. acquired a new stake in Fate Therapeutics in the 3rd quarter worth about $202,000. Finally, PNC Financial Services Group Inc. raised its stake in Fate Therapeutics by 45.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,640 shares of the biopharmaceutical company’s stock worth $176,000 after purchasing an additional 4,260 shares in the last quarter. Institutional investors and hedge funds own 86.30% 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. Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; FT500 induced pluripotent stem cells (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516 engineered iPSC-derived NK cell product candidate for the treatment of hematologic/solid tumors; and FT819 engineered chimeric antigen receptor 19 iPSC-derived T-cell product candidate for hematologic/solid tumors.

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Earnings History and Estimates for Fate Therapeutics (NASDAQ:FATE)

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