The stock of Fate Therapeutics, Inc. is traded on the NASDAQ under the symbol FATE. Cantor Fitzgerald investment analysts issued a research note to investors on Wednesday, September 21, in which they presented their projections for Fate Therapeutics, Inc.’s earnings per share (EPS) for the fiscal year 2022. The note was titled “Fate Therapeutics, Inc. Earnings Per Share Forecasts.” According to projections by L. Watseka, an analyst working for Cantor Fitzgerald, the biopharmaceutical sector will generate $3.15 per share for the current financial year. Cantor Fitzgerald has assigned an “Overweight” rating to the stock on their research platform. The most recent earnings forecast for Fate Therapeutics calls for the company to bring in $3.42 per share for the entire year. Cantor Fitzgerald also said that Fate Therapeutics would lose $3.95 per share in revenue over the fiscal year 2023.
The most recent quarterly earnings report for Fate Therapeutics (NASDAQ: FATE) was made available on Wednesday, August 3. The biopharmaceutical company’s earnings per share for the quarter came in at $0.79, which was $0.07 more than the consensus earnings forecast of analysts, which was $0.86. The earnings for the quarter were reported in U.S. dollars. Even though the company had a negative net margin of 371.73%, Fate Therapeutics could still achieve a return on equity of 40.37%. Analysts’ projections for the upcoming quarter’s revenue ranged from $13.42 million to $18.55 million, with the median estimate coming in at $18.55 million.
When trading started on Friday, the price of a share of FATE was established at $22.47. During the previous year, the price of Fate Therapeutics fluctuated between $17.10 and $70.29, with a low point of $17.10 in the most recent year. The company’s simple moving average over the past 50 days is $29.57, and the company’s simple moving average over the past 200 days is also $29.53 [both prices are in U.S. dollars]. The company’s market capitalization is currently estimated to be $2.18 billion. Its price-to-earnings ratio is 8.51, and its beta is 1.68.
There have been additional reports written on the stock in question that have been published by analysts who focus specifically on equities research. In a report made public on Thursday, August 4, Oppenheimer stated that the price target they had established for Fate Therapeutics shares had been reduced from $135.00 to $90.00. Morgan Stanley lowered their price objective for Fate Therapeutics from $45.00 to $35.00 in a research report made available to the general public on Friday, September 9 in a research report made available to the general public on Friday, September 9. The “equal weight” rating was another one of the firm’s evaluations of the company. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Fate Therapeutics on Friday, August 19, and set a price objective of $90.00 for the company’s stock at that time. Finally, BMO Capital Markets changed its recommendation for Fate Therapeutics in a research report published on Monday, July 11. Previously, they had given the company an “outperform” rating; however, they have now downgraded it to a “market perform” rating. In addition, they lowered the target price they had set for the company, which had previously been set at $50.00, to $47.00. Not to be outdone, on Thursday, July 28, a research report written by Needham & Company LLC began covering Fate Therapeutics. This was not the least important item to mention. They recommended that shareholders “hold” their shares of the company. Nine industry professionals have issued a recommendation to buy the stock, four have issued a recommendation to hold the stock, and one market watcher has issued a recommendation to sell the stock. The current recommendation for Fate Therapeutics is “Moderate Buy,” and the average price goal for the company is anticipated to be $74.46. This information is based on data from Bloomberg.
It is only very recently that several hedge funds and institutional investors have changed the percentage of the company they own that is held within their respective investment portfolios. The value of ARK Investment Management LLC’s holdings in Fate Therapeutics increased by 4.4% over the year’s second quarter. ARK Investment Management LLC now holds 11,473,655 shares of the biopharmaceutical company’s stock following the acquisition of an additional 485,473 shares during the most recent quarter. The stock is currently valued at $265,041,000. During the first three months of 2018, BlackRock Inc. increased the proportion of Fate Therapeutics stock it owned by 0.6 percentage points. BlackRock Inc. now owns a total of 7,105,671 shares of the biopharmaceutical company’s stock, which has a value of $275,487,000 after making an additional purchase of 45,119 shares during the period in question. This brings the total number of shares owned by BlackRock Inc. to 7,105,671. During the second quarter, State Street Corporation achieved a 51.8% increase in the proportion of Fate Therapeutics stock it owned. After purchasing an additional 1,797,703 shares during the most recent period, State Street Corp now owns 5,270,135 shares of the biopharmaceutical company’s stock. The value of these shares on the market as of right now is $130,594,000. Price T. Rowe Associates, Inc. MD increased the proportion of Fate Therapeutics stock owned by 1.5% during the year’s second quarter. Price T. Rowe Associates Inc. MD now owns a total of 4,983,503 shares of the biopharmaceutical company’s stock, which has an estimated market value of $123,491,000 after purchasing an additional 72,136 shares during the most recent period. The value of the company’s stock on the market is estimated to be $123,491,000. Not to mention, during the first three months of 2018, Capital World Investors boosted the amount of Fate Therapeutics stock they owned by 39.9%. Capital World Investors now holds 4,559,673 shares of the biopharmaceutical company’s stock, which has a value of $176,779,000. This is because, during the relevant period, an extra 1,300,640 shares were bought.
On July 7, a business insider by the name of Bahram Valamehr sold 17,158 company stock shares, as reported in the news article linked above. The sale of the stock resulted in total revenue of $518,686.34, with the average price at which each share was purchased being $30.23. After the completion of the transaction, the company insider now directly owns 179,834 shares of the company. The total value of these shares is 5,436,381.82 dollars. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. On Thursday, July 7, an executive of Fate Therapeutics named Bahram Valamehr sold 17,158 shares of the company’s stock. This information was included in a separate piece of news. The sale of the stock resulted in total revenue of $518,686.34, with the average price at which each share was purchased being $30.23.
After the completion of the transaction, the company insider now directly owns 179,834 shares of the company. The total value of these shares is 5,436,381.82 dollars. You might find a filing that explains the transaction in greater detail on the Securities and Exchange Commission (SEC) website. In addition, on August 18, the Chief Financial Officer of Fate Therapeutics, Edward J. Dulac III, sold 5,135 shares of the company’s stock. The shares were acquired for a total cost of 153,074.35 dollars, which works out to a price of $29.81 per share on an average basis. Following the completion of the transaction, the chief financial officer acquired a total of 136,801 shares of the company’s stock, which currently has a price tag of $4,078,037.81 per share. Disclosures that are related to the sale might be found in this section of the website. In the preceding quarter, company insiders sold a total of 56,012 shares of stock at a combined price of $1,748,685, according to the most recent available data. Therefore, the total number of shares owned by the company’s insiders is 17.34%.