Fate Therapeutics, Inc. (NASDAQ:FATE) posted its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01, Bloomberg Earnings reports. Fate Therapeutics had a negative net margin of 857.34% and a negative return on equity of 75.93%. The company had revenue of $1.03 million during the quarter, compared to analyst estimates of $1.02 million.
Fate Therapeutics (NASDAQ:FATE) traded up 2.27% during trading on Tuesday, hitting $3.16. 416,909 shares of the stock traded hands. The stock’s market cap is $130.83 million. The firm’s 50-day moving average is $3.05 and its 200-day moving average is $3.69. Fate Therapeutics has a 12 month low of $1.80 and a 12 month high of $5.68.
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An institutional investor recently bought a new position in Fate Therapeutics stock. California State Teachers Retirement System acquired a new stake in shares of Fate Therapeutics, Inc. (NASDAQ:FATE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,500 shares of the biopharmaceutical company’s stock, valued at approximately $219,000. California State Teachers Retirement System owned approximately 0.16% of Fate Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 61.15% of the company’s stock.
A number of equities analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, May 16th. ValuEngine lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $6.25.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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