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

Fate Therapeutics (NASDAQ:FATE) posted its earnings results 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 44.88% and a negative net margin of 1,325.43%. The business had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million.

Fate Therapeutics Trading Down 8.8 %

Shares of NASDAQ FATE opened at $2.17 on Thursday. Fate Therapeutics has a 1 year low of $2.05 and a 1 year high of $8.83. The firm’s 50-day moving average is $3.17 and its 200-day moving average is $3.61. The firm has a market capitalization of $247.12 million, a PE ratio of -1.32 and a beta of 1.88.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FATE shares. HC Wainwright reissued a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on 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.