FY2024 Earnings Forecast for FATE Issued By Leerink Partnrs

Fate Therapeutics, Inc. (NASDAQ:FATE) – Leerink Partnrs issued their FY2024 EPS estimates for Fate Therapeutics in a report released on Thursday, February 13th. Leerink Partnrs analyst D. Graybosch anticipates that the biopharmaceutical company will post earnings per share of ($1.62) for the year. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.63) per share. Leerink Partnrs also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.42) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($2.06) EPS, FY2027 earnings at ($1.96) EPS and FY2028 earnings at ($1.74) EPS.

A number of other analysts have also weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fate Therapeutics presently has an average rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $1.42 on Monday. The firm has a market cap of $161.72 million, a P/E ratio of -0.86 and a beta of 2.02. The firm has a 50 day simple moving average of $1.55 and a 200 day simple moving average of $2.62. Fate Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $8.83.

Insider Transactions at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the transaction, the director now owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Castleview Partners LLC acquired a new position in shares of Fate Therapeutics during the 3rd quarter worth about $73,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Fate Therapeutics during the 4th quarter worth about $40,000. FPC Investment Advisory Inc. acquired a new position in shares of Fate Therapeutics during the 4th quarter worth about $44,000. Intech Investment Management LLC acquired a new position in shares of Fate Therapeutics during the 3rd quarter worth about $108,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Fate Therapeutics during the 4th quarter worth about $58,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.