Fate Therapeutics (NASDAQ:FATE) Announces Quarterly Earnings Results

Fate Therapeutics (NASDAQ:FATE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02, Zacks reports. The firm had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%.

Fate Therapeutics Trading Down 5.9 %

Fate Therapeutics stock traded down $0.14 during mid-day trading on Wednesday, hitting $2.24. The company’s stock had a trading volume of 1,007,103 shares, compared to its average volume of 2,172,420. Fate Therapeutics has a 1 year low of $2.05 and a 1 year high of $8.83. The stock’s fifty day moving average is $3.20 and its two-hundred day moving average is $3.62.

Analyst Ratings Changes

Several brokerages have recently issued reports on FATE. HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.89.

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.