Fate Therapeutics (NASDAQ:FATE - Get Free Report) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.86 million during the quarter, compared to analyst estimates of $1.57 million.
Fate Therapeutics Stock Performance
Shares of Fate Therapeutics stock traded down $0.03 during midday trading 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 company has a 50 day moving average of $1.36 and a 200 day moving average of $2.36. Fate Therapeutics has a 52-week low of $0.88 and a 52-week high of $8.74. The stock has a market capitalization of $115.74 million, a P/E ratio of -0.61 and a beta of 2.26.
Insider Buying and Selling at Fate Therapeutics
In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the business's stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, for a total transaction 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. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Fate Therapeutics from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday. StockNews.com upgraded Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday, November 18th. Wedbush reiterated a "neutral" rating and set a $5.00 target price on shares of Fate Therapeutics in a report on Thursday. Finally, Needham & Company LLC reiterated 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.50.
Read Our Latest Research Report on FATE
About Fate Therapeutics
(
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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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