Is Fate Therapeutics Inc (NASDAQ: FATE) Stock Set To Rise More?

In the last trading session, 2.78 million Fate Therapeutics Inc (NASDAQ:FATE) shares changed hands as the company’s beta touched 1.64. With the company’s per share price at $6.29 changed hands at $0.18 or 2.95% during last session, the market valuation stood at $620.19M. FATE’s last price was a discount, traded about -11.13% off its 52-week high of $6.99. The share price had its 52-week low at $1.63, which suggests the last value was 74.09% up since then. When we look at Fate Therapeutics Inc’s average trading volume, we note the 10-day average is 4.34 million shares, with the 3-month average coming to 0.87.

Fate Therapeutics Inc (NASDAQ:FATE) trade information

Instantly FATE was in green as seen at the end of in last trading. With action -3.53%, the performance over the past five days has been red. The jump to weekly highs of 6.64 added 2.95% to the stock’s daily price. The company’s shares are showing year-to-date upside of 68.18%, with the 5-day performance at -3.53% in the red. However, in the 30-day time frame, Fate Therapeutics Inc (NASDAQ:FATE) is 37.64% up. Looking at the short shares, we see there were 11.48 million shares sold at short interest cover period of 3.65 days.

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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 92.94% over the past 6 months, a 38.49% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Fate Therapeutics Inc will rise 10.30%, while the growth in revenue is estimated to hit -173.70% for the next quarter. Year-over-year growth is forecast to reach -34.20% 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 $1.59 million. 15 analysts are of the opinion that Fate Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $1.63 million. The company’s revenue for the corresponding quarters a year ago was $44.36 million and $58.98 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -96.40%. The estimates for the next quarter sales put growth at -97.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.32%. The 2024 estimates are for Fate Therapeutics Inc earnings to increase by 40.98%.

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 101.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.29%. There are 101.79% 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 $62.47 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 12.15% or 11.98 million shares worth $57.02 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 8.05 million shares estimated at $20.2 million under it, the former controlled 8.16% 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 $12.2 million.

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