Fate Therapeutics Inc. (NASDAQ:FATE) does about 3.16M shares in volume on a normal day but saw 3939521 shares change hands in Monday trading. The company now has a market cap of 557.05M USD. Its current market price is $5.55, marking an increase of 1.46% compared to the previous close of $5.47. The 52 week high reached by this stock is $43.14 whilst the lowest price level in 52 weeks is $4.02. The script in recent trading has seen the stock touch a high of $5.68 and a low of $5.325.
Fate Therapeutics Inc. (FATE) has a 20-day trading average at $7.76 and the current price is -87.13% off the 52-week high compared with 38.06% distance from its 52-week low. The 50-day simple moving average of the closing price is $14.25 and its 200-day simple moving average is $23.56. If we look at the stock’s price movements over the week, volatility stands at 5.79%, which increases to 8.83% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 26.04 to suggest the stock is oversold.
The consensus objective for the share price is $17.57, suggesting that the stock has a potential upside of 68.41% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 06, 2023 when Wedbush downgraded the stock to “Neutral” and issued a price target of between $42 and $7. Truist also downgraded the stock to “Hold” from Buy on January 06, 2023 at a price target of $46-$7. Stifel downgraded its price target at $107-$5.30.
The current price level is -31.48%, -61.80%, and -76.61% away from its SMA20, SMA50, and SMA200 respectively, with the FATE price moving above the 50-day SMA on January 23. Fate Therapeutics Inc. (FATE) stock is up 2.78% over the week and -56.06% over the past month. Its price is -45.00% year-to-date and -85.51% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of -$0.79 above consensus estimates by $0.04. The company’s next earnings report is expected on 05/03/2023, with forecasts estimating quarterly EPS at -$0.89 and -$3.33 for whole year. FATE’s earnings per share are forecast to shrink by -48.70% this year and -15.30% over next year. Expected sales for next quarter are $15.83 million, which analysts say will come at $67.09 million for the current fiscal year and next year at $59.16 million. In addition, estimates put the company’s current quarterly revenue at an average of $15.63 million.
Its 12-month price target is $8.00. To reach the target analysts have set, the stock logically needs to grow 68.41 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $4.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $115.00.
Outstanding shares total 97.02M with insiders holding 1.59% of the shares and institutional holders owning 116.22% of the company’s common stock. The company has a return on investment of -32.00% and return on equity of -48.80%. The beta has a value of 1.57. Price to book ratio is 1.04 and price to sales ratio is 8.07.
According to a U.S. Securities and Exchange Commission filing, SPDR S&P Biotech ETF has added its position in Fate Therapeutics Inc. (FATE) to 4,188,039 shares, mirroring a recent increase by 0.41%. SPDR S&P Biotech ETF added 16928.0 shares of Fate Therapeutics Inc. common stock bringing its total worth to about $42.26 million at the end of recent close, SEC documents show. SPDR S&P Biotech ETF isn’t the only investment manager who changed stakes and is followed by BB Biotech AG, which sold off 42800.0 shares to end up with 3,658,536 shares worth $36.91 million. Vanguard Total Stock Market Index raise their holdings by 0.80% in the company over the course of the most recent quarter. It now holds a 2.64% position in Fate Therapeutics Inc. thanks to 2.56 million shares amounting to $25.86 million.