FY2024 EPS Estimate for Fate Therapeutics Lowered by Analyst

Fate Therapeutics, Inc. (NASDAQ:FATE) – Wedbush decreased their FY2024 earnings per share estimates for Fate Therapeutics in a report released on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings per share of ($1.68) for the year, down from their previous estimate of ($1.62). Wedbush has a “Neutral” rating and a $5.00 price objective on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.73) per share. Wedbush also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.49) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.38) EPS, FY2025 earnings at ($1.60) EPS, FY2026 earnings at ($1.33) EPS, FY2027 earnings at ($1.23) EPS and FY2028 earnings at ($1.09) EPS.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday. HC Wainwright restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.89.

Fate Therapeutics Trading Down 4.1 %

Fate Therapeutics stock opened at $2.08 on Friday. Fate Therapeutics has a 12 month low of $2.05 and a 12 month high of $8.83. The stock has a 50-day moving average price of $3.14 and a two-hundred day moving average price of $3.60.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%.

Institutional Investors Weigh In On Fate Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Walleye Capital LLC grew its stake in Fate Therapeutics by 263.5% during the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 49,009 shares during the period. BNP Paribas Financial Markets grew its stake in Fate Therapeutics by 1,307.6% during the third quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after purchasing an additional 161,776 shares during the period. FMR LLC grew its stake in Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 46,892 shares during the period. Intech Investment Management LLC acquired a new stake in Fate Therapeutics during the third quarter worth approximately $108,000. Finally, Thrivent Financial for Lutherans grew its stake in Fate Therapeutics by 24.7% during the third quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company’s stock worth $439,000 after purchasing an additional 24,804 shares during the period. Institutional investors and hedge funds own 97.54% 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. 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.