In the last trading session, 2.17 million shares of the Fate Therapeutics Inc. (NASDAQ:FATE) were traded, and its beta was 1.70. Most recently the company’s share price was $22.23, and it changed around $1.19 or 5.66% from the last close, which brings the market valuation of the company to $1.98B. FATE currently trades at a discount to its 52-week high of $97.43, offering almost -338.28% off that amount. The share price’s 52-week low was $17.10, which indicates that the current value has risen by an impressive 23.08% since then. We note from Fate Therapeutics Inc.’s average daily trading volume that its 3-month average coming to 1.55 million.
Fate Therapeutics Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 21 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended FATE as a Hold, whereas 16 deemed it a Buy, and 0 rated it as Underweight. Fate Therapeutics Inc. is expected to report earnings per share of -$0.83 for the current quarter.
Fate Therapeutics Inc. (NASDAQ:FATE) trade information
Instantly FATE has showed a green trend with a performance of 5.66% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 23.03 on Tuesday, 06/21/22 increased the stock’s daily price by 3.47%. The company’s shares are currently down -62.01% year-to-date, but still up 25.03% over the last five days. On the other hand, Fate Therapeutics Inc. (NASDAQ:FATE) is -0.76% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $81.50, which translates to bulls needing to increase their stock price by 72.72% from its current value. Analyst projections state that FATE is forecast to be at a low of $28.00 and a high of $135.00. In order for the stock price to hit the forecast high, the stock would need to plunge -507.29% from its current level, while the stock would need to crash -25.96% from its current level to reach the projected low.
Fate Therapeutics Inc. (FATE) estimates and forecasts
Fate Therapeutics Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -62.17 percent over the past six months and at a -50.45% annual growth rate that is well below the industry average of 0.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -43.10% in revenue this quarter, and will report a decrease of -91.10% in the next quarter. The year-over-year growth rate is expected to be -1.40%, down from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $12.32 million in revenue for the current quarter. 16 analysts expect Fate Therapeutics Inc. to make $12.09 million in revenue for the quarter ending Sep 2022. Analysts predict that the company’s current quarter sales will jump, forecast at 95.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -16.30%.
Fate Therapeutics Inc.’s next quarterly earnings report is expected to be released around February 22 and February 28.
Fate Therapeutics Inc. (NASDAQ:FATE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.37% of Fate Therapeutics Inc. shares, and 101.75% of them are in the hands of institutional investors. The stock currently has a share float of 103.16%. Fate Therapeutics Inc. stock is held by 373 institutions, with Redmile Group, LLC being the largest institutional investor. By Dec 30, 2021, it held 13.41% of the shares, which is about 12.96 million shares worth $758.13 million.
ARK Investment Management, LLC, with 11.37% or 10.99 million shares worth $426.01 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF were the top two Mutual Funds as of Feb 27, 2022. The former held 6.16 million shares worth $212.86 million, making up 6.38% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held roughly 4.59 million shares worth around $158.69 million, which represents about 4.75% of the total shares outstanding.