Fate Therapeutics (NASDAQ:FATE - Get Free Report) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13, Zacks reports. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $1.86 million during the quarter, compared to analysts' expectations of $1.57 million.
Fate Therapeutics Stock Down 2.9 %
Shares of FATE traded down $0.03 during trading hours on Friday, hitting $1.01. The company had a trading volume of 1,919,180 shares, compared to its average volume of 2,571,885. The business has a fifty day moving average of $1.36 and a 200-day moving average of $2.36. The firm has a market cap of $115.74 million, a price-to-earnings ratio of -0.61 and a beta of 2.26. Fate Therapeutics has a 12 month low of $0.88 and a 12 month high of $8.74.
Insider Buying and Selling
In other news, Director Redmile Group, Llc purchased 397,964 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on FATE. Wedbush restated a "neutral" rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday. Stifel Nicolaus lowered their target price on shares of Fate Therapeutics from $5.00 to $3.00 and set a "hold" rating on the stock in a report on Thursday. Bank of America raised shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. Wells Fargo & Company decreased their price objective on shares of Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a report on Thursday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Fate Therapeutics presently has a consensus rating of "Hold" and an average target price of $5.50.
Check Out Our Latest Report on FATE
Fate Therapeutics Company Profile
(
Get Free Report)
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.
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