Equities research analysts expect Fate Therapeutics Inc (NASDAQ:FATE) to announce sales of $1.02 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Fate Therapeutics’ earnings. The highest sales estimate is $1.03 million and the lowest is $1.00 million. Fate Therapeutics posted sales of $1.03 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1%. The business is expected to report its next quarterly earnings report on Thursday, March 15th.
On average, analysts expect that Fate Therapeutics will report full-year sales of $1.02 million for the current fiscal year, with estimates ranging from $4.00 million to $4.11 million. For the next fiscal year, analysts anticipate that the company will post sales of $5.66 million per share, with estimates ranging from $4.02 million to $12.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Fate Therapeutics.
Several brokerages recently commented on FATE. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Friday, January 19th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Friday, November 10th. BidaskClub raised shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 23rd. Wedbush reissued an “outperform” rating and set a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, December 18th. Finally, ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $7.71.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. J. Goldman & Co LP purchased a new stake in shares of Fate Therapeutics during the 4th quarter valued at about $1,277,000. 683 Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 25.8% during the 4th quarter. 683 Capital Management LLC now owns 853,800 shares of the biopharmaceutical company’s stock valued at $5,217,000 after acquiring an additional 175,000 shares during the last quarter. Endurant Capital Management LP boosted its holdings in shares of Fate Therapeutics by 104.1% during the 4th quarter. Endurant Capital Management LP now owns 556,679 shares of the biopharmaceutical company’s stock valued at $3,401,000 after acquiring an additional 283,979 shares during the last quarter. Redmile Group LLC boosted its holdings in shares of Fate Therapeutics by 285.1% during the 4th quarter. Redmile Group LLC now owns 5,465,486 shares of the biopharmaceutical company’s stock valued at $33,394,000 after acquiring an additional 4,046,428 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Fate Therapeutics by 873.6% during the 4th quarter. Millennium Management LLC now owns 338,799 shares of the biopharmaceutical company’s stock valued at $2,070,000 after acquiring an additional 303,999 shares during the last quarter. 50.00% of the stock is currently owned by hedge funds and other institutional investors.
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About Fate Therapeutics
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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