Fate Therapeutics (NASDAQ:FATE) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Fate Therapeutics (NASDAQ:FATE) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13, Zacks reports. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%.

Fate Therapeutics Stock Performance

FATE traded down $0.04 on Wednesday, reaching $0.91. 3,379,836 shares of the company’s stock were exchanged, compared to its average volume of 2,582,744. The company has a market cap of $103.09 million, a price-to-earnings ratio of -0.55 and a beta of 2.02. Fate Therapeutics has a twelve month low of $0.89 and a twelve month high of $8.83. The company’s 50 day moving average is $1.40 and its 200-day moving average is $2.41.

Analysts Set New Price Targets

FATE has been the topic of several analyst reports. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $6.17.

Insiders Place Their Bets

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the purchase, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by insiders.

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.