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

Fate Therapeutics

09/05/2024 22:01

* Fate Therapeutics Inc  FATE.OQ  reported a quarterly
adjusted
loss of 47 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of -19 cents.  The mean expectation of twenty one analysts
for the quarter was for a loss of 49 cents per share. Wall
Street expected results to range from -67 cents to -42 cents per
share.
    * Revenue fell 96.7% to $1.93 million from a year ago;
analysts
expected $1.11 million. 
    * Fate Therapeutics Inc's reported EPS for the quarter was a
loss
of 47 cents​.
    * The company reported a quarterly loss of $48 million.
    * Fate Therapeutics Inc shares had fallen by 49.6% this
quarter and lost 1.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 13
"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 $7.00 
This summary was machine generated from LSEG data May 9 at 09:00
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
 Mar. 31 2024      -0.49          -0.47          Beat
 Dec. 31 2023      -0.52          -0.45          Beat
 Sep. 30 2023      -0.57          -0.46          Beat
 Jun. 30 2023      -0.59          -0.54          Beat