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Investors Cash In On Fate Therapeutics Inc’s 9.06% Gain

Fate Therapeutics Inc (NASDAQ:FATE) price closed higher on Monday, February 12, jumping 9.06% above its previous close.

A look at the daily price movement shows that the last close reads $6.29. The company’s 5Y monthly beta was ticking 1.65. Taking into account the 52-week price action we note that the stock hit a 52-week high of $6.99 and 52-week low of $1.63. The stock added 54.16% on its value in the past month.

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Fate Therapeutics Inc, which has a market valuation of $676.40 million, is expected to release its quarterly earnings report Feb 26, 2024 – Mar 01, 2024. Analysts tracking FATE have forecast the quarterly EPS to shrink by -0.52 per share this quarter, while the same analysts predict the annual EPS to hit -$1.72 for the year 2024 and up to -$2.03 for 2024. In this case, analysts estimate an annual EPS growth of 40.90% for the year and -18.00% for the next year.

The average estimate suggests sales growth for the quarter will likely fall by -96.40% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $63.4 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -34.20% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give FATE a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that FATE’s price is at present 28.95% off the SMA20 and 68.85% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 70.55, with weekly volatility standing at 10.85%. The indicator jumps to 11.76% when calculated based on the past 30 days. Fate Therapeutics Inc (NASDAQ:FATE)’s beta value is holding at 1.64, while the average true range (ATR) indicator is currently reading 0.58.

Turning out attention to how the Fate Therapeutics Inc stock has performed in comparison to its peers in the industry, here’s what we find: FATE’s stock is 9.06% on the day and 10.65% in the past 12 months, while Ionis Pharmaceuticals Inc. (IONS) traded -1.98%% in the last session and was positioned 27.00% up on its price 12 months ago. Turning out attention to how the Fate Therapeutics Inc stock has performed in comparison to its peers in the industry, here’s what we find: FATE’s stock is 9.06% on the day and 10.65% in the past 12 months, while Ionis Pharmaceuticals Inc. (IONS) traded -1.98%% in the last session and was positioned 27.00% up on its price 12 months ago. Another comparison is with Neurocrine Biosciences Inc. (NBIX) whose stock price was down -1.41%% in the last trading session, and has flourished 25.99% over the past year. Also, Becton Dickinson & Co. (BDX) showed down trend of -0.16%% while its price kept floating at -1.57% over the past year.

An analysis of the Fate Therapeutics Inc (NASDAQ:FATE) stock in terms of its daily trading volume indicates that the 3-month average is 1.04. However, this figure increases on the past 10-day timeline to an average of 4.34 million.

Current records show that the company has 97.29M in outstanding shares. The insiders’ percentage holdings are 6.09% of outstanding shares while the percentage share held by institutions stands at 107.21%. The stats also highlight that short interest as of Jan 31, 2024, stood at 11.48 million shares, which puts the short ratio at the time at 3.65. From this we can glean that short interest is 11.64% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 10.55 million. But the 83.42% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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