FY2024 Earnings Forecast for FATE Issued By Leerink Partnrs

Fate Therapeutics, Inc. (NASDAQ:FATE) – Analysts at Leerink Partnrs issued their FY2024 earnings estimates for Fate Therapeutics in a report issued 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.

FATE has been the subject of several other research reports. Wedbush reiterated a “neutral” rating and issued a $5.00 target price 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 research note on Tuesday, November 19th. Finally, Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.75.

Fate Therapeutics Stock Up 11.8 %

FATE opened at $1.42 on Monday. The company has a market capitalization of $161.72 million, a price-to-earnings ratio of -0.86 and a beta of 2.02. The firm has a 50-day moving average price of $1.53 and a 200-day moving average price of $2.60. Fate Therapeutics has a twelve month low of $1.04 and a twelve month high of $8.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after purchasing an additional 283,080 shares during the period. Barclays PLC increased its position in Fate Therapeutics by 245.3% during the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after purchasing an additional 301,389 shares during the period. SG Americas Securities LLC increased its position in Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 10,511 shares during the period. Walleye Capital LLC increased its position in Fate Therapeutics by 263.5% during the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 49,009 shares during the period. Finally, Geode Capital Management LLC increased its position in Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after purchasing an additional 10,863 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fate Therapeutics

In other Fate Therapeutics news, Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $1.68 per share, for a total transaction of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares in the company, valued at $21,645,585.36. The trade was a 3.19 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by company insiders.

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.