Fate Therapeutics (NASDAQ:FATE – Get Free Report) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04, FiscalAI reports. The company had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.49 million. Fate Therapeutics had a negative return on equity of 55.02% and a negative net margin of 2,051.08%.
Fate Therapeutics Price Performance
Shares of NASDAQ:FATE traded down $0.14 during trading on Thursday, reaching $2.00. 2,318,656 shares of the company were exchanged, compared to its average volume of 1,930,392. The business’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.24. Fate Therapeutics has a 12-month low of $0.91 and a 12-month high of $2.46. The firm has a market capitalization of $231.98 million, a PE ratio of -1.73 and a beta of 2.13.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 12,114 shares during the period. Bank of America Corp DE increased its stake in shares of Fate Therapeutics by 20.0% during the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 24,423 shares during the period. Bridgeway Capital Management LLC bought a new stake in shares of Fate Therapeutics in the second quarter valued at about $28,000. Commonwealth Equity Services LLC bought a new stake in shares of Fate Therapeutics in the fourth quarter valued at about $26,000. Finally, Corient Private Wealth LLC purchased a new stake in Fate Therapeutics in the fourth quarter worth about $29,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Fate Therapeutics
About Fate Therapeutics
Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.
Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.
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