Equities Analysts Set Expectations for FATE FY2024 Earnings

Fate Therapeutics, Inc. (NASDAQ:FATE) – Research analysts at Leerink Partnrs issued their FY2024 EPS estimates for shares of Fate Therapeutics in a research report issued to clients and investors on Thursday, February 13th. Leerink Partnrs analyst D. Graybosch forecasts that the biopharmaceutical company will post earnings per share of ($1.62) for the year. The consensus estimate for Fate Therapeutics’ current full-year earnings is ($1.63) per share. Leerink Partnrs also issued estimates for Fate Therapeutics’ Q4 2024 earnings at ($0.42) EPS, FY2025 earnings at ($1.94) EPS, FY2026 earnings at ($2.06) EPS, FY2027 earnings at ($1.96) EPS and FY2028 earnings at ($1.74) EPS.

A number of other analysts have also recently commented on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Stock Up 7.7 %

FATE stock opened at $1.53 on Monday. The firm has a 50 day moving average of $1.51 and a 200 day moving average of $2.58. The stock has a market capitalization of $174.25 million, a PE ratio of -0.93 and a beta of 2.02. Fate Therapeutics has a 52 week low of $1.04 and a 52 week high of $8.83.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors have recently made changes to their positions in FATE. Tang Capital Management LLC increased its holdings in shares of Fate Therapeutics by 165.1% during the 4th quarter. Tang Capital Management LLC now owns 1,855,954 shares of the biopharmaceutical company’s stock valued at $3,062,000 after purchasing an additional 1,155,954 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of Fate Therapeutics by 1,502.0% during the 4th quarter. Walleye Capital LLC now owns 1,083,092 shares of the biopharmaceutical company’s stock valued at $1,787,000 after purchasing an additional 1,015,483 shares in the last quarter. Cerity Partners LLC grew its stake in Fate Therapeutics by 4,953.6% in the 4th quarter. Cerity Partners LLC now owns 823,134 shares of the biopharmaceutical company’s stock valued at $1,358,000 after acquiring an additional 806,846 shares during the period. Vestal Point Capital LP grew its stake in Fate Therapeutics by 46.3% in the 4th quarter. Vestal Point Capital LP now owns 2,465,000 shares of the biopharmaceutical company’s stock valued at $4,067,000 after acquiring an additional 780,000 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Fate Therapeutics in the 4th quarter valued at $846,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Redmile Group, Llc bought 397,964 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now directly owns 12,884,277 shares in the company, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

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.