Equities Analysts Set Expectations for FATE FY2024 Earnings

Fate Therapeutics, Inc. (NASDAQ:FATE) – Analysts at Leerink Partnrs issued their FY2024 earnings estimates for shares of Fate Therapeutics in a research report issued on Thursday, February 13th. Leerink Partnrs analyst D. Graybosch anticipates that the biopharmaceutical company will post earnings per share of ($1.62) 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.

A number of other research firms have also recently issued reports on FATE. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.75.

Fate Therapeutics Stock Performance

Fate Therapeutics stock opened at $1.53 on Monday. The company’s fifty day moving average price is $1.51 and its 200 day moving average price is $2.58. Fate Therapeutics has a 1 year low of $1.04 and a 1 year high of $8.83. The stock has a market capitalization of $174.25 million, a P/E ratio of -0.93 and a beta of 2.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after acquiring an additional 283,080 shares during the last quarter. Barclays PLC increased its stake in Fate Therapeutics by 245.3% during the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock worth $1,485,000 after purchasing an additional 301,389 shares during the period. SG Americas Securities LLC increased its stake in Fate Therapeutics by 30.6% during the fourth quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 10,511 shares during the period. Walleye Capital LLC increased its stake in Fate Therapeutics by 263.5% during the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 49,009 shares during the period. Finally, Geode Capital Management LLC increased its stake in Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after purchasing an additional 10,863 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Insider Activity

In other news, Director Redmile Group, Llc purchased 397,964 shares of the stock in a transaction dated 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 transaction, the director now owns 12,884,277 shares in the company, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Fate Therapeutics Company Profile

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.