A share price of Fate Therapeutics Inc [FATE] is currently trading at $7.08, down -3.54%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The FATE shares have gain 7.11% over the last week, with a monthly amount drifted -0.14%, and not seem to be holding up well over a long-time horizon.
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On 19, March 2024, Fate Therapeutics Announces Pricing of $100 Million Underwritten Offering and Concurrent Private Placement. In a post published today on Yahoo Finance, Fate Therapeutics, Inc. (the “Company” or “Fate Therapeutics”) (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune disorders, today announced the pricing of an underwritten offering of 14,545,454 shares of its common stock at an offering price of $5.50 per share. The offering includes participation from new and existing institutional investors, including Adage Capital Partners LP., Boxer Capital, Deep Track Capital, OrbiMed, Suvretta Capital and a life-sciences focused investor.
From an analyst’s perspective:
Previously, H.C. Wainwright downgraded its rating to Neutral on January 24, 2023, and dropped its price target to $7. On January 06, 2023, downgrade downgraded it’s rating to Neutral and revised its price target to $7 on the stock. Truist downgraded its rating to a Hold and decreased its price target to $7 on January 06, 2023. Stifel downgraded its rating to a Hold and reduced its price target to $5.30 on January 06, 2023. Piper Sandler downgraded its rating to Neutral for this stock on January 06, 2023, and downed its price target to $12. In a note dated January 06, 2023, Cowen downgraded an Market Perform rating on this stock.
Fate Therapeutics Inc experienced fluctuations in its stock price throughout the past year between $1.63 and $8.83. Currently, Wall Street analysts expect the stock to reach $51.67 within the next 12 months. Fate Therapeutics Inc [NASDAQ: FATE] shares were valued at $7.08 at the most recent close of the market. An investor can expect a potential return of 629.8% based on the average FATE price forecast.
Analyzing the FATE fundamentals
Trailing Twelve Months sales for Fate Therapeutics Inc [NASDAQ:FATE] were 63.53M which represents -96.22% decline. Gross Profit Margin for this corporation currently stands at 0.71% with Operating Profit Margin at -3.0%, Pretax Profit Margin comes in at -2.53%, and Net Profit Margin reading is -2.38%. To continue investigating profitability, this company’s Return on Assets is posted at -0.3, Equity is -0.36 and Total Capital is -0.41. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.28.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.87 points at the first support level, and at 6.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 7.31, and for the 2nd resistance point, it is at 7.54.
Fate Therapeutics Inc [FATE] reported earnings per share of -$0.45 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.52/share, meaning a difference of $0.07 and a surprise factor of 13.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.46 per share as compared to estimates of -$0.57 per share, a difference of $0.11 representing a surprise of 19.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Fate Therapeutics Inc [NASDAQ:FATE] is 8.48. Further, the Quick Ratio stands at 8.48, while the Cash Ratio is 1.07. Considering the valuation of this stock, the price to sales ratio is 11.06, the price to book ratio is 1.90.
Transactions by insiders
Recent insider trading involved Dulac Edward J III, Chief Financial Officer, that happened on Mar 04 ’24 when 2447.0 shares were sold. Chief Financial Officer, Dulac Edward J III completed a deal on Jan 29 ’24 to sell 1849.0 shares. Meanwhile, President and CEO Wolchko J Scott sold 14391.0 shares on Jan 09 ’24.
