Q1 2024 EPS Estimates for Fate Therapeutics, Inc. (NASDAQ:FATE) Increased by Wedbush

Fate Therapeutics, Inc. (NASDAQ:FATE) – Equities researchers at Wedbush lifted their Q1 2024 EPS estimates for Fate Therapeutics in a report released on Monday, May 6th. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will post earnings of ($0.42) per share for the quarter, up from their prior estimate of ($0.49). Wedbush currently has a “Neutral” rating and a $7.00 target price on the stock. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Fate Therapeutics’ Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.70) EPS, FY2025 earnings at ($1.47) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.32) EPS.

A number of other research firms also recently issued reports on FATE. HC Wainwright reissued a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Barclays increased their target price on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Morgan Stanley boosted their price target on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 27th. Bank of America increased their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th. Finally, Oppenheimer reissued a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and an average target price of $6.90.

Fate Therapeutics Stock Down 4.6 %

FATE opened at $3.70 on Wednesday. The stock’s fifty day moving average is $6.16 and its two-hundred day moving average is $4.71. The company has a market capitalization of $421.12 million, a P/E ratio of -2.26 and a beta of 1.80. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The business had revenue of $1.68 million for the quarter, compared to the consensus estimate of $0.85 million. During the same period in the prior year, the firm earned ($0.58) EPS.

Institutional Investors Weigh In On Fate Therapeutics

A number of large investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in Fate Therapeutics in the 1st quarter worth approximately $1,109,000. BNP Paribas Financial Markets increased its stake in shares of Fate Therapeutics by 100.9% in the first quarter. BNP Paribas Financial Markets now owns 46,962 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 23,582 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Fate Therapeutics during the first quarter worth $432,000. Simplicity Wealth LLC purchased a new position in shares of Fate Therapeutics during the first quarter worth $81,000. Finally, Assenagon Asset Management S.A. lifted its position in Fate Therapeutics by 1,462.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,548,304 shares of the biopharmaceutical company’s stock valued at $18,705,000 after purchasing an additional 2,385,207 shares during the period. 97.54% of the stock is owned by hedge funds and other 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.