In the latest trading session, 0.89 million Fate Therapeutics Inc. (NASDAQ:FATE) shares changed hands as the company’s beta touched 1.48. With the company’s most recent per share price at $2.49 changing hands around $0.29 or 13.18% at last look, the market valuation stands at $263.27M. FATE’s current price is a discount, trading about -961.04% off its 52-week high of $26.42. The share price had its 52-week low at $2.14, which suggests the last value was 14.06% up since then. When we look at Fate Therapeutics Inc.’s average trading volume, we note the 10-day average is 4.14 million shares, with the 3-month average coming to 2.41 million.
Analysts gave the Fate Therapeutics Inc. (FATE) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 14 recommended FATE as a Hold, 5 felt it is a Buy and 1 rated the stock as Underweight. Fate Therapeutics Inc.’s EPS for the current quarter is expected to be -$0.56.
Fate Therapeutics Inc. (NASDAQ:FATE) trade information
Instantly FATE is in green as seen in intraday trades today. With action 2.05%, the performance over the past five days has been green. The jump to weekly highs of 2.57 on Friday, 09/15/23 added 13.18% to the stock’s daily price. The company’s shares are showing year-to-date downside of -75.32%, with the 5-day performance at 2.05% in the green. However, in the 30-day time frame, Fate Therapeutics Inc. (NASDAQ:FATE) is -10.43% down. Looking at the short shares, we see there were 27.64 million shares sold at short interest cover period of 14.15 days.
The consensus price target for the stock as assigned by Wall Street analysts is $7.38, meaning bulls need an upside of 66.26% from its recent market value. According to analyst projections, FATE’s forecast low is $4.00 with $16.00 as the target high. To hit the forecast high, the stock’s price needs a -542.57% plunge from its current level, while the stock would need to soar -60.64% for it to hit the projected low.
Fate Therapeutics Inc. (FATE) estimates and forecasts
Data shows that the Fate Therapeutics Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -55.05% over the past 6 months, a 34.36% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Fate Therapeutics Inc. will rise 34.90%, while the growth in revenue is estimated to hit 3.40% for the next quarter. Year-over-year growth is forecast to reach -35.20% down from the last financial year.
Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $850k. 19 analysts are of the opinion that Fate Therapeutics Inc.’s revenue for the quarter ending Dec 2023 will be $1.49 million. The company’s revenue for the corresponding quarters a year ago was $14.98 million and $44.36 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -94.30%. The estimates for the next quarter sales put growth at -96.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.20%. The 2023 estimates are for Fate Therapeutics Inc. earnings to decrease by -29.90%.
Fate Therapeutics Inc. is expected to release its next quarterly earnings report between November 01 and November 06.
Fate Therapeutics Inc. (NASDAQ:FATE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.45% of Fate Therapeutics Inc. shares while 116.30% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 118.02%. There are 116.30% institutions holding the Fate Therapeutics Inc. stock share, with Redmile Group, LLC the top institutional holder. As of Jun 29, 2023, the company held 13.32% of the shares, roughly 13.12 million FATE shares worth $33.34 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 12.15% or 11.98 million shares worth $30.43 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 8.31 million shares estimated at $21.12 million under it, the former controlled 8.43% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.60% of the shares, roughly 2.56 million shares worth around $6.51 million.