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

Fate Therapeutics (NASDAQ:FATE) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.02, Zacks reports. The firm had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 44.88% and a negative net margin of 1,325.43%.

Fate Therapeutics Trading Down 6.3 %

Shares of FATE traded down $0.15 on Wednesday, reaching $2.23. The stock had a trading volume of 1,013,456 shares, compared to its average volume of 2,172,566. Fate Therapeutics has a 12-month low of $2.05 and a 12-month high of $8.83. The company has a 50-day simple moving average of $3.20 and a 200-day simple moving average of $3.62.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.