Fate Therapeutics (NASDAQ:FATE) Releases Earnings Results, Beats Expectations By $0.13 EPS

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

Fate Therapeutics Price Performance

FATE traded down $0.04 during trading hours on Wednesday, hitting $0.91. 3,379,836 shares of the stock were exchanged, compared to its average volume of 2,582,744. 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 stock has a 50-day simple moving average of $1.40 and a 200-day simple moving average of $2.41. Fate Therapeutics has a 12 month low of $0.89 and a 12 month high of $8.83.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc purchased 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the transaction, the director now owns 12,884,277 shares in the company, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FATE shares. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, StockNews.com raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Fate Therapeutics currently has a consensus 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.