Wedbush Decreases Earnings Estimates for Fate Therapeutics

Fate Therapeutics, Inc. (NASDAQ:FATE) – Wedbush lowered their FY2024 earnings estimates for shares of Fate Therapeutics in a note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates 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.

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

A number of other brokerages have also issued reports on FATE. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and a consensus target price of $6.89.

Fate Therapeutics Price Performance

FATE opened at $2.02 on Friday. The company has a market capitalization of $230.04 million, a price-to-earnings ratio of -1.22 and a beta of 1.88. The business’s 50-day moving average price is $3.11 and its two-hundred day moving average price is $3.59. Fate Therapeutics has a 1 year low of $1.96 and a 1 year high of $8.83.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in FATE. Massachusetts Financial Services Co. MA grew its position in shares of Fate Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 5,605 shares during the period. Doheny Asset Management CA bought a new position in Fate Therapeutics during the second quarter worth about $263,000. Ausdal Financial Partners Inc. acquired a new position in Fate Therapeutics during the second quarter worth approximately $33,000. Geode Capital Management LLC raised its stake in Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after buying an additional 10,863 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Fate Therapeutics by 40.7% in the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 12,230 shares during the period. 97.54% of the stock is owned by institutional investors.

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.