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Strength Seen in Fate Therapeutics (FATE): Can Its 9.3% Jump Turn into More Strength?
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Fate Therapeutics (FATE - Free Report) shares ended the last trading session 9.3% higher at $11.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 46.9% loss over the past four weeks.
This rise in price is attributable to positive investor sentiments towards the company’s cell therapy pipeline consisting of cellular immunotherapies targeting cancer and immune disorders. The company is progressing well with FT596 and FT516 therapies, both targeting B-cell lymphoma in early-stage clinical studies.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of -20.8%. Revenues are expected to be $20.11 million, up 17.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Fate Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FATE going forward to see if this recent jump can turn into more strength down the road.
Fate Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Blueprint Medicines (BPMC - Free Report) , another stock in the same industry, closed the last trading session 9.4% higher at $47.37. BPMC has returned -10.7% in the past month.
For Blueprint Medicines, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.70. This represents a change of -172.7% from what the company reported a year ago. Blueprint Medicines currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Fate Therapeutics (FATE): Can Its 9.3% Jump Turn into More Strength?
Fate Therapeutics (FATE - Free Report) shares ended the last trading session 9.3% higher at $11.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 46.9% loss over the past four weeks.
This rise in price is attributable to positive investor sentiments towards the company’s cell therapy pipeline consisting of cellular immunotherapies targeting cancer and immune disorders. The company is progressing well with FT596 and FT516 therapies, both targeting B-cell lymphoma in early-stage clinical studies.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.87 per share in its upcoming report, which represents a year-over-year change of -20.8%. Revenues are expected to be $20.11 million, up 17.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Fate Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FATE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fate Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Blueprint Medicines (BPMC - Free Report) , another stock in the same industry, closed the last trading session 9.4% higher at $47.37. BPMC has returned -10.7% in the past month.
For Blueprint Medicines, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$2.70. This represents a change of -172.7% from what the company reported a year ago. Blueprint Medicines currently has a Zacks Rank of #4 (Sell).