Fate Therapeutics (NASDAQ:FATE) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Fate Therapeutics (NASDAQ:FATEGet Free Report) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02, Zacks reports. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million.

Fate Therapeutics Trading Down 3.4 %

Fate Therapeutics stock traded down $0.08 during trading on Wednesday, reaching $2.30. The company had a trading volume of 450,437 shares, compared to its average volume of 2,170,073. The firm has a market capitalization of $261.92 million, a price-to-earnings ratio of -1.46 and a beta of 1.88. The firm’s 50-day simple moving average is $3.20 and its 200 day simple moving average is $3.62. Fate Therapeutics has a 52 week low of $2.05 and a 52 week high of $8.83.

Wall Street Analysts Forecast Growth

FATE has been the subject of a number of research analyst reports. HC Wainwright reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Wedbush restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Fate Therapeutics presently has an average rating of “Hold” and a consensus target price of $6.89.

View Our Latest Stock Analysis on FATE

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.

See Also

Earnings History for Fate Therapeutics (NASDAQ:FATE)

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