Fate Therapeutics, Inc. (NASDAQ:FATE - Free Report) - Research analysts at Leerink Partnrs issued their FY2024 EPS estimates for shares of Fate Therapeutics in a report issued on Thursday, February 13th. Leerink Partnrs analyst D. Graybosch forecasts that the biopharmaceutical company will earn ($1.62) per share for the year. The consensus estimate for Fate Therapeutics' current full-year earnings is ($1.63) per share. Leerink Partnrs also issued estimates for Fate Therapeutics' Q4 2024 earnings at ($0.42) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($2.06) EPS, FY2027 earnings at ($1.96) EPS and FY2028 earnings at ($1.74) EPS.
Several other brokerages also recently issued reports on FATE. Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note on Monday, November 18th. Finally, Wedbush reiterated a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.75.
Get Our Latest Stock Analysis on FATE
Fate Therapeutics Trading Down 9.6 %
FATE traded down $0.17 during trading on Monday, hitting $1.55. 3,134,862 shares of the company's stock were exchanged, compared to its average volume of 2,306,990. The stock has a 50 day moving average price of $1.50 and a 200 day moving average price of $2.57. Fate Therapeutics has a 1 year low of $1.04 and a 1 year high of $8.83. The firm has a market cap of $175.96 million, a P/E ratio of -0.94 and a beta of 2.02.
Insider Activity
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 purchased at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now directly owns 12,884,277 shares of the company's stock, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.00% of the company's stock.
Institutional Investors Weigh In On Fate Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its stake in Fate Therapeutics by 40.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company's stock valued at $148,000 after purchasing an additional 12,230 shares during the period. Castleview Partners LLC acquired a new position in shares of Fate Therapeutics during the third quarter worth approximately $73,000. Privium Fund Management B.V. bought a new position in Fate Therapeutics in the 3rd quarter worth approximately $175,000. Thrivent Financial for Lutherans increased its position in Fate Therapeutics by 24.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 125,370 shares of the biopharmaceutical company's stock valued at $439,000 after acquiring an additional 24,804 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Fate Therapeutics in the 3rd quarter valued at approximately $108,000. 97.54% of the stock is currently owned by institutional investors.
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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