Future Prospects And Stock Pricing Of Fate Therapeutics Inc (NASDAQ: FATE)

In the last trading session, 1.87 million shares of the Fate Therapeutics Inc (NASDAQ:FATE) were traded, and its beta was 1.68. Most recently the company’s share price was $6.80, and it changed around -$0.28 or -3.95% from the last close, which brings the market valuation of the company to $674.83M. FATE currently trades at a discount to its 52-week high of $8.83, offering almost -29.85% off that amount. The share price’s 52-week low was $1.63, which indicates that the current value has risen by an impressive 76.03% since then. We note from Fate Therapeutics Inc’s average daily trading volume that its 10-day average is 2.39 million shares, with the 3-month average coming to 2.93 million.

Fate Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.58. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 0 recommended FATE as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Fate Therapeutics Inc is expected to report earnings per share of -$0.49 for the current quarter.

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Fate Therapeutics Inc (NASDAQ:FATE) trade information

Instantly FATE has showed a red trend with a performance of -3.95% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 81.82% year-to-date, but still down -1.02% over the last five days. On the other hand, Fate Therapeutics Inc (NASDAQ:FATE) is -12.14% down in the 30-day period. We can see from the shorts that 13.16 million shares have been sold at a short interest cover period of 4.7 day(s).

The consensus price target as assigned by Wall Street analysts is $51.67, which translates to bulls needing to increase their stock price by 86.84% from its current value. Analyst projections state that FATE is forecast to be at a low of $4 and a high of $145.

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 risen 220.75 percent over the past six months and at a -18.29% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -157.90% in revenue this quarter, and will report an increase of 9.30% in the next quarter. The year-over-year growth rate is expected to be -93.60%, down from the previous year.

Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $1.11 million in revenue for the current quarter. 14 analysts expect Fate Therapeutics Inc to make $1.13 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $58.98 million and $5.53 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -98.10%. Forecasts for the next quarter put sales growth at -79.60%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -6.65%.

FATE Dividends

Fate Therapeutics Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.

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

Upon looking at major shareholders, it appears that insiders hold 1.47% of Fate Therapeutics Inc shares, and 91.88% of them are in the hands of institutional investors. The stock currently has a share float of 93.25%. Fate Therapeutics Inc stock is held by 226 institutions, with Redmile Group, LLC being the largest institutional investor. By Jun 29, 2023, it held 13.32% of the shares, which is about 13.12 million shares worth $62.47 million.

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

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 8.05 million shares worth $20.2 million, making up 8.16% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.56 million shares worth around $12.2 million, which represents about 2.60% of the total shares outstanding.