Wedbush Decreases Earnings Estimates for Fate Therapeutics

Fate Therapeutics, Inc. (NASDAQ:FATE) – Research analysts at Wedbush dropped their FY2024 EPS estimates for Fate Therapeutics in a report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings of ($1.68) per share for the year, down from their previous estimate of ($1.62). Wedbush has a “Neutral” rating and a $5.00 price target 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.

Several other analysts have also issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.89.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $2.02 on Friday. Fate Therapeutics has a 52-week low of $1.96 and a 52-week high of $8.83. The company has a fifty day moving average of $3.11 and a 200-day moving average of $3.59. The stock has a market capitalization of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to analysts’ expectations 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 Trading of Fate Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Fate Therapeutics by 404.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock worth $2,014,000 after purchasing an additional 219,932 shares during the period. Perceptive Advisors LLC bought a new position in Fate Therapeutics in the second quarter worth about $1,133,000. Vanguard Group Inc. lifted its holdings in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after buying an additional 617,644 shares during the period. Deerfield Management Company L.P. Series C boosted its position in Fate Therapeutics by 62.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after acquiring an additional 1,365,463 shares in the last quarter. Finally, Integral Health Asset Management LLC boosted its position in Fate Therapeutics by 325.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after acquiring an additional 650,000 shares in the last quarter. Hedge funds and other institutional investors 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.