Fate Therapeutics (NASDAQ:FATE) Announces Quarterly Earnings Results, Hits Expectations

Fate Therapeutics (NASDAQ:FATEGet Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.47), Zacks reports. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $0.80 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share.

Fate Therapeutics Price Performance

NASDAQ:FATE traded up $0.18 during trading hours on Friday, reaching $4.08. 6,164,234 shares of the company were exchanged, compared to its average volume of 2,861,806. The company has a market capitalization of $464.37 million, a P/E ratio of -2.54 and a beta of 1.80. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83. The business has a 50 day moving average of $6.10 and a 200 day moving average of $4.70.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FATE shares. Piper Sandler dropped their price objective on Fate Therapeutics from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday. Bank of America upped their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research note on Thursday, March 28th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 27th. Finally, Barclays upped their price objective on Fate Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $6.75.

View Our Latest Analysis on Fate Therapeutics

About Fate Therapeutics

(Get Free Report)

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.

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Earnings History for Fate Therapeutics (NASDAQ:FATE)

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