Fate Therapeutics (NASDAQ:FATE) Issues Quarterly Earnings Results

Fate Therapeutics (NASDAQ:FATE) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13, Zacks reports. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%.

Fate Therapeutics Trading Down 4.7 %

Shares of Fate Therapeutics stock traded down $0.04 on Wednesday, hitting $0.91. The stock had a trading volume of 3,379,835 shares, compared to its average volume of 2,582,718. Fate Therapeutics has a 52-week low of $0.89 and a 52-week high of $8.83. The stock has a market cap of $103.09 million, a price-to-earnings ratio of -0.55 and a beta of 2.02. The company’s 50 day moving average price is $1.40 and its 200 day moving average price is $2.41.

Insider Activity

In other Fate Therapeutics news, Director Redmile Group, Llc bought 397,964 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $1.68 per share, for a total transaction of $668,579.52. Following the transaction, the director now owns 12,884,277 shares of the company’s stock, valued at approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FATE shares. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report 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. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.17.

About Fate Therapeutics

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.