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Why Is Fate Therapeutics (FATE) Up 21.8% Since Last Earnings Report?
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It has been about a month since the last earnings report for Fate Therapeutics (FATE - Free Report) . Shares have added about 21.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Fate Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Fate Reports Wider Q3 Loss, Misses on Sales
Loss per share in the third quarter came in at 36 cents per share, wider than the Zacks Consensus Estimate of a loss of 29 cents per share but narrower than the year-ago loss of 40 cents per share.
Collaboration revenues came in at $7.6 million, outpacing $2.4 million in the year-ago quarter but missing the Zacks Consensus Estimate of $10 million.
Revenues generated came from the company’s collaborations with Janssen and Ono Pharmaceutical.
Quarter in Detail
Research and Development expenses increased to $30.7 million from $23.2 million in the year-ago quarter.
General and administrative expenses increased to $8.3 million from $6.3 million in the year-ago quarter.
Fate ended the quarter with cash and equivalents of $349.1 million, up from $99.8 million on Dec 31, 2019. In June, the company closed an underwritten public offering of 7.1 million shares of its common stock at a public offering price of $28.31 per share.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision flatlined during the past month.
VGM Scores
Currently, Fate Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Fate Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Fate Therapeutics (FATE) Up 21.8% Since Last Earnings Report?
It has been about a month since the last earnings report for Fate Therapeutics (FATE - Free Report) . Shares have added about 21.8% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Fate Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Fate Reports Wider Q3 Loss, Misses on Sales
Loss per share in the third quarter came in at 36 cents per share, wider than the Zacks Consensus Estimate of a loss of 29 cents per share but narrower than the year-ago loss of 40 cents per share.
Collaboration revenues came in at $7.6 million, outpacing $2.4 million in the year-ago quarter but missing the Zacks Consensus Estimate of $10 million.
Revenues generated came from the company’s collaborations with Janssen and Ono Pharmaceutical.
Quarter in Detail
Research and Development expenses increased to $30.7 million from $23.2 million in the year-ago quarter.
General and administrative expenses increased to $8.3 million from $6.3 million in the year-ago quarter.
Fate ended the quarter with cash and equivalents of $349.1 million, up from $99.8 million on Dec 31, 2019. In June, the company closed an underwritten public offering of 7.1 million shares of its common stock at a public offering price of $28.31 per share.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision flatlined during the past month.
VGM Scores
Currently, Fate Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Fate Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.