Fate Therapeutics Inc (FATE) Expected to Announce Quarterly Sales of $1.45 Million

Brokerages expect that Fate Therapeutics Inc (NASDAQ:FATE) will post $1.45 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Fate Therapeutics’ earnings, with the lowest sales estimate coming in at $630,000.00 and the highest estimate coming in at $1.95 million. Fate Therapeutics posted sales of $1.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 40.8%. The firm is expected to issue its next earnings results on Monday, August 5th.

On average, analysts expect that Fate Therapeutics will report full-year sales of $6.36 million for the current year, with estimates ranging from $4.00 million to $8.26 million. For the next fiscal year, analysts anticipate that the company will post sales of $12.92 million, with estimates ranging from $4.10 million to $46.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Fate Therapeutics.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The business had revenue of $2.63 million during the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative net margin of 1,138.12% and a negative return on equity of 54.30%. The business’s revenue for the quarter was up 156.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) earnings per share.

Several equities analysts recently commented on the company. Svb Leerink assumed coverage on Fate Therapeutics in a research note on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. BidaskClub upgraded Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Zacks Investment Research lowered Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Wedbush upped their target price on Fate Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Finally, Leerink Swann assumed coverage on Fate Therapeutics in a research note on Thursday, March 28th. They issued an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Fate Therapeutics currently has an average rating of “Buy” and a consensus price target of $19.63.

Fate Therapeutics stock traded up $1.09 during trading on Wednesday, hitting $18.37. The company’s stock had a trading volume of 821,474 shares, compared to its average volume of 675,055. The firm has a market capitalization of $1.20 billion, a P/E ratio of -15.44 and a beta of 1.96. Fate Therapeutics has a 1-year low of $8.64 and a 1-year high of $19.11. The company has a current ratio of 6.40, a quick ratio of 6.40 and a debt-to-equity ratio of 0.26.

In other Fate Therapeutics news, CEO J Scott Wolchko sold 8,541 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $16.17, for a total transaction of $138,107.97. Following the completion of the sale, the chief executive officer now directly owns 375,973 shares in the company, valued at $6,079,483.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Cindy Tahl sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.15, for a total value of $403,750.00. Following the sale, the general counsel now owns 115,418 shares of the company’s stock, valued at $1,864,000.70. The disclosure for this sale can be found here. Insiders have sold 91,041 shares of company stock valued at $1,507,558 over the last 90 days. 23.19% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Fate Therapeutics by 9.8% during the first quarter. Goldman Sachs Group Inc. now owns 378,850 shares of the biopharmaceutical company’s stock worth $6,656,000 after acquiring an additional 33,892 shares during the last quarter. Geode Capital Management LLC increased its stake in Fate Therapeutics by 12.6% during the first quarter. Geode Capital Management LLC now owns 790,871 shares of the biopharmaceutical company’s stock worth $13,895,000 after acquiring an additional 88,692 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fate Therapeutics by 4.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 144,332 shares of the biopharmaceutical company’s stock worth $2,536,000 after acquiring an additional 5,794 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Fate Therapeutics during the first quarter worth about $1,400,000. Finally, The Manufacturers Life Insurance Company increased its stake in Fate Therapeutics by 14.2% during the first quarter. The Manufacturers Life Insurance Company now owns 39,929 shares of the biopharmaceutical company’s stock worth $701,000 after acquiring an additional 4,967 shares during the last quarter. Institutional investors own 92.23% of the company’s stock.

Fate Therapeutics Company Profile

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 comprising adaptive memory NK cells; FT500, an induced pluripotent stem cell (iPSC)-derived NK cell product candidate for the treatment of advanced solid tumors; FT516, an iPSC-derived non-cleavable CD16 engineered NK cell product candidate to treat hematologic malignancies and solid tumors; and FT596, a chimeric antigen receptor (CAR) T-cell therapy for patients with hematologic malignancies.

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

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