Wedbush Equities Analysts Reduce Earnings Estimates for FATE

Fate Therapeutics, Inc. (NASDAQ:FATE) – Equities researchers at Wedbush reduced their FY2024 earnings estimates for Fate Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now expects that the biopharmaceutical company will post earnings per share of ($1.68) for the year, down from their prior estimate of ($1.62). Wedbush currently 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 research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.89.

Fate Therapeutics Stock Down 2.9 %

Shares of Fate Therapeutics stock opened at $2.02 on Friday. Fate Therapeutics has a twelve month low of $1.96 and a twelve month high of $8.83. The company’s 50 day moving average is $3.11 and its 200 day moving average is $3.59. The company has a market cap of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88.

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

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after buying an additional 301,389 shares during the last quarter. Walleye Capital LLC lifted its position in shares of 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 last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 valued at $610,000 after purchasing an additional 161,776 shares during the period. FMR LLC grew its holdings in shares of Fate Therapeutics by 25.9% in 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 last quarter. Finally, Intech Investment Management LLC purchased a new position in Fate Therapeutics in the 3rd quarter worth about $108,000. Institutional investors own 97.54% 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. 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.