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Fate Therapeutics Inc. (NASDAQ: FATE)’s Stock Is Down -76.37% Since The Beginning Of The Year, Likely To Sustain The Trend In 2023

During the last session, Fate Therapeutics Inc. (NASDAQ:FATE)’s traded shares were 1.66 million, with the beta value of the company hitting 1.50. At the end of the trading day, the stock’s price was $5.34, reflecting an intraday loss of -2.38% or -$0.13. The 52-week high for the FATE share is $37.13, that puts it down -595.32 from that peak though still a striking 24.72% gain since the share price plummeted to a 52-week low of $4.02. The company’s market capitalization is $515.90M, and the average intraday trading volume over the past 10 days was 1.94 million shares, and the average trade volume was 2.73 million shares over the past three months.

Fate Therapeutics Inc. (FATE) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.60. FATE has a Sell rating from 1 analyst(s) out of 23 analysts who have looked at this stock. 14 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 6 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.6.

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Fate Therapeutics Inc. (NASDAQ:FATE) trade information

Fate Therapeutics Inc. (FATE) registered a -2.38% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.38% in intraday trading to $5.34 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 6.16%, and it has moved by -11.44% in 30 days. Based on these gigs, the overall price performance for the year is -76.37%. The short interest in Fate Therapeutics Inc. (NASDAQ:FATE) is 28.08 million shares and it means that shorts have 11.81 day(s) to cover.

The consensus price target of analysts on Wall Street is $8.16, which implies an increase of 34.56% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.00 and $16.00 respectively. As a result, FATE is trading at a discount of -199.63% off the target high and 25.09% off the low.

Fate Therapeutics Inc. (FATE) estimates and forecasts

Statistics show that Fate Therapeutics Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Fate Therapeutics Inc. (FATE) shares have gone down -72.81% during the last six months, with a year-to-date growth rate more than the industry average at 34.02% against 11.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 24.10% this quarter and then jump 34.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -32.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $5.53 million as predicted by 18 analyst(s). Meanwhile, a consensus of 17 analyst(s) estimates revenue growth to $960k by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $18.55 million and $14.98 million respectively. In this case, analysts expect current quarter sales to shrink by -70.20% and then drop by -93.60% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -23.20%. While earnings are projected to return -29.90% in 2023.

FATE Dividends

Fate Therapeutics Inc. is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Fate Therapeutics Inc. (NASDAQ:FATE)’s Major holders

Fate Therapeutics Inc. insiders own 1.51% of total outstanding shares while institutional holders control 106.35%, with the float percentage being 107.98%. State Street Corporation is the largest shareholder of the company, while 321 institutions own stock in it. As of Mar 30, 2023, the company held over 14.83 million shares (or 15.07% of all shares), a total value of $84.53 million in shares.

The next largest institutional holding, with 12.96 million shares, is of Redmile Group, LLC’s that is approximately 13.17% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $73.86 million.

Also, the Mutual Funds coming in first place with the largest holdings of Fate Therapeutics Inc. (FATE) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 3.62 million shares. This amounts to just over 3.69 percent of the company’s overall shares, with a $22.17 million market value. The same data shows that the other fund manager holds slightly less at 2.56 million, or about 2.61% of the stock, which is worth about $25.86 million.

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