Fate Therapeutics Inc reports results for the quarter ended in June - Earnings Summary

Fate Therapeutics

13/08/2024 23:13

* Fate Therapeutics Inc  FATE.OQ  reported a quarterly
adjusted
loss of 33 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -54 cents.  The mean expectation of
nineteen analysts for the quarter was for a loss of 48 cents per
share. Wall Street expected results to range from -64 cents
to -40 cents per share.
    * Revenue rose 625.8% to $6.77 million from a year ago;
analysts
expected $1.41 million. 
    * Fate Therapeutics Inc's reported EPS for the quarter was a
loss
of 33 cents​.
    * The company reported a quarterly loss of $38.43 million.
    * Fate Therapeutics Inc shares had risen by 1.5% this
quarter and
lost 11.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 11
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "hold"

Wall Street's median 12-month price target for Fate Therapeutics
Inc is $6.00 
This summary was machine generated from LSEG data August 13 at
10:13 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.48          -0.33          Beat
 Mar. 31 2024      -0.49          -0.47          Beat
 Dec. 31 2023      -0.52          -0.45          Beat
 Sep. 30 2023      -0.57          -0.46          Beat