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Fate Therapeutics (FATE) Soars 25.4%: Is Further Upside Left in the Stock?
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Fate Therapeutics (FATE - Free Report) shares rallied 25.4% in the last trading session to close at $5.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.9% gain over the past four weeks.
This suuden rise in the stock price is attributable to positive investor sentiments towards the company’s early-stage cell therapy pipeline consisting of several cellular immunotherapies targeting cancer and aitoimmune disorders. Earlier this month, the company reported initiating a phase I study of FT825 to treat patients with HER2-expressing advanced solid tumors.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of +1.7%. Revenues are expected to be $0.84 million, down 98.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Regeneron (REGN - Free Report) , closed the last trading session 1.7% higher at $955.80. Over the past month, REGN has returned 7%.
Regeneron's consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $10.46. Compared to the company's year-ago EPS, this represents a change of -16.7%. Regeneron currently boasts a Zacks Rank of #1 (Strong Buy).
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Fate Therapeutics (FATE) Soars 25.4%: Is Further Upside Left in the Stock?
Fate Therapeutics (FATE - Free Report) shares rallied 25.4% in the last trading session to close at $5.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.9% gain over the past four weeks.
This suuden rise in the stock price is attributable to positive investor sentiments towards the company’s early-stage cell therapy pipeline consisting of several cellular immunotherapies targeting cancer and aitoimmune disorders. Earlier this month, the company reported initiating a phase I study of FT825 to treat patients with HER2-expressing advanced solid tumors.
This clinical-stage biotech company that develops stem cell treatments is expected to post quarterly loss of $0.57 per share in its upcoming report, which represents a year-over-year change of +1.7%. Revenues are expected to be $0.84 million, down 98.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Fate Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Regeneron (REGN - Free Report) , closed the last trading session 1.7% higher at $955.80. Over the past month, REGN has returned 7%.
Regeneron's consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $10.46. Compared to the company's year-ago EPS, this represents a change of -16.7%. Regeneron currently boasts a Zacks Rank of #1 (Strong Buy).