Fate Therapeutics (NASDAQ:FATE) Announces Earnings Results

Fate Therapeutics (NASDAQ:FATE) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, meeting the consensus estimate of ($0.27), FiscalAI reports. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%.The company had revenue of $1.37 million for the quarter, compared to analyst estimates of $1.20 million.

Fate Therapeutics Price Performance

FATE stock traded down $0.08 during trading on Friday, reaching $1.48. 1,596,196 shares of the stock traded hands, compared to its average volume of 1,782,395. The firm has a market capitalization of $170.72 million, a PE ratio of -1.12 and a beta of 2.24. The business’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.16. Fate Therapeutics has a 52-week low of $0.66 and a 52-week high of $1.94.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FATE. Cantor Fitzgerald reissued a “neutral” rating on shares of Fate Therapeutics in a research note on Tuesday, November 4th. HC Wainwright raised shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Friday, October 31st. Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FATE. Virtu Financial LLC acquired a new position in Fate Therapeutics during the fourth quarter valued at approximately $68,000. Invesco Ltd. boosted its position in Fate Therapeutics by 20.4% during the 4th quarter. Invesco Ltd. now owns 379,025 shares of the biopharmaceutical company’s stock worth $372,000 after purchasing an additional 64,200 shares during the period. Corient Private Wealth LLC acquired a new stake in Fate Therapeutics in the 4th quarter valued at $29,000. State of Tennessee Department of Treasury acquired a new stake in Fate Therapeutics in the 4th quarter valued at $88,000. Finally, Man Group plc raised its position in Fate Therapeutics by 18.9% in the fourth quarter. Man Group plc now owns 261,172 shares of the biopharmaceutical company’s stock valued at $257,000 after purchasing an additional 41,514 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.