Fate Therapeutics Inc (FATE)
NASDAQ:FATE
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Fate Therapeutics
(NASDAQ:FATE)
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Rating:55Neutral
Price Target:
$2.50
▲(79.86% Upside)
Action:Reiterated
Date:05/23/26
The score is held back primarily by weak financial performance—declining revenue, large losses, and heavy cash burn—despite a comparatively manageable leverage profile. Technicals are a key offset, with a clear uptrend and positive momentum indicators. Valuation is hard to assess due to negative earnings and no provided dividend yield.
Positive Factors
iPSC off-the-shelf platform
Fate's focus on iPSC-derived, off-the-shelf NK and T‑cell therapies is a durable strategic asset: it targets scalability and reduced manufacturing complexity versus patient-specific autologous approaches, supports broader commercial distribution, and aligns with long-term industry trends favoring allogeneic cell therapies in oncology.
Negative Factors
High cash burn
Sustained high operating and free cash burn creates a persistent financing requirement that pressures long-term viability: ongoing negative cash flows force reliance on equity, debt, or partner funding, raise dilution risk for shareholders, and constrain the company's ability to self-fund multiple late‑stage trials or rapid commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
iPSC off-the-shelf platform
Fate's focus on iPSC-derived, off-the-shelf NK and T‑cell therapies is a durable strategic asset: it targets scalability and reduced manufacturing complexity versus patient-specific autologous approaches, supports broader commercial distribution, and aligns with long-term industry trends favoring allogeneic cell therapies in oncology.
Read all positive factors
Fate Therapeutics (FATE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$262.26M
Dividend YieldN/A
Average Volume (3M)2.98M
Price to Earnings (P/E)―
Beta (1Y)2.20
Revenue Growth-52.64%
EPS Growth26.97%
CountryUS
Employees181
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.09
Shares Outstanding116,559,190
10 Day Avg. Volume3,583,499
30 Day Avg. Volume2,976,900
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.56
Price to Sales (P/S)17.56
P/FCF Ratio-1.04
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue47.41
Enterprise Value/Gross Profit88.13
Enterprise Value/Ebitda-2.46
Forecast
1Y Price Target
$4.42Price Target Upside218.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.08
Revenue Forecast (FY)$5.60M
Fate Therapeutics Business Overview & Revenue Model
Company Description
Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatm...
How the Company Makes Money
Fate Therapeutics has historically generated revenue primarily from collaboration and partnership arrangements rather than from product sales, because it is a clinical-stage company and does not have widely marketed commercial products. Key revenu...
Fate Therapeutics Earnings Call Summary
Earnings Call Date:May 09, 2024
(Q1-2024)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant progress in clinical trials, particularly with FT819 and FT522, alongside a strong financial position. However, revenue growth remains limited and operating expenses are high, suggesting a balanced outlook with promising clinical achievements countered by financial challenges.Positive Updates
FT819 and FT522 Data Presentation
Presented promising data from FT819 and FT522 programs at the ASGCT Annual Meeting, showing potential disease-modifying effects and immune reset in B-cell-mediated autoimmune diseases.
Negative Updates
Limited Revenue Growth
Reported revenue of $1.9 million, consistent with prior quarters, reflecting limited growth.
Read all updates
Q1-2024 Updates
Positive
Negative
FT819 and FT522 Data Presentation
Presented promising data from FT819 and FT522 programs at the ASGCT Annual Meeting, showing potential disease-modifying effects and immune reset in B-cell-mediated autoimmune diseases.
Read all positive updates
Company Guidance
During the Fate Therapeutics Q1 2024 earnings call, the company provided guidance on its clinical and financial outlook. Key program initiatives were discussed, including the FT819 CAR T-cell and FT522 CAR NK cell programs, with notable translational data presented at the American Society of Gene and Cell Therapy Annual Meeting. The company highlighted its plans to achieve several clinical milestones across its iPSC product pipeline, targeting both cancer and autoimmune diseases. Financially, Fate Therapeutics raised $100 million through an underwritten offering and private placement, ending the first quarter with approximately $391 million in cash. Operating expenses for the full year are projected between $215 million and $230 million, with a year-end cash balance exceeding $270 million. The company's strategic focus is on demonstrating the disease-modifying potential of its therapies while maintaining a strong financial position to support ongoing and future clinical development.Fate Therapeutics Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
56
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.32M | 6.65M | 13.63M | 63.53M | 96.30M | 55.85M |
| Gross Profit | 3.40M | -6.25M | 13.63M | -93.65M | 82.54M | 50.00M |
| EBITDA | -121.56M | -127.02M | -176.58M | -172.23M | -294.63M | -211.14M |
| Net Income | -129.91M | -136.31M | -186.26M | -160.93M | -281.72M | -212.15M |
Balance Sheet | ||||||
| Total Assets | 284.92M | 318.94M | 440.69M | 506.22M | 705.56M | 921.46M |
| Cash, Cash Equivalents and Short-Term Investments | 174.82M | 203.66M | 279.07M | 315.18M | 436.23M | 615.91M |
| Total Debt | 76.78M | 77.85M | 85.27M | 103.54M | 109.34M | 114.82M |
| Total Liabilities | 105.21M | 111.75M | 121.97M | 137.80M | 221.62M | 242.62M |
| Stockholders Equity | 179.71M | 207.18M | 318.73M | 368.42M | 483.94M | 678.84M |
Cash Flow | ||||||
| Free Cash Flow | -108.09M | -112.04M | -123.60M | -138.42M | -283.77M | -213.57M |
| Operating Cash Flow | -103.10M | -106.08M | -122.87M | -132.26M | -248.21M | -162.87M |
| Investing Cash Flow | 92.08M | 111.17M | 12.22M | 112.67M | 166.75M | -324.02M |
| Financing Cash Flow | 5.49M | 5.49M | 99.89M | 85.00K | 9.21M | 453.13M |
Fate Therapeutics Technical Analysis
Positive
1.39
Price Trends
1.50
Positive
1.36
Positive
1.25
Positive
Market Momentum
0.16
Positive
63.85
Neutral
60.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FATE, the sentiment is Positive. The current price of 1.39 is below the 20-day moving average (MA) of 1.90, below the 50-day MA of 1.50, and above the 200-day MA of 1.25, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 63.85 is Neutral, neither overbought nor oversold. The STOCH value of 60.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FATE.
Fate Therapeutics Risk Analysis
Fate Therapeutics disclosed 90 risk factors in its most recent earnings report. Fate Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fate Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $264.75M | ― | 47.72% | ― | 163.35% | ― | |
55 Neutral | $262.26M | -1.15 | -58.89% | ― | -52.64% | 26.97% | |
54 Neutral | $216.78M | -1.41 | -30.90% | ― | ― | 10.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $467.75M | ― | -60.73% | ― | -78.29% | 54.16% | |
47 Neutral | $122.38M | ― | -95.51% | ― | -10.71% | 28.59% | |
45 Neutral | $94.29M | ― | 4596.70% | ― | ― | 13.21% |
* Healthcare Sector Average
FATE
Fate Therapeutics
2.25
1.09
93.97%
CGEN
Compugen
2.80
1.37
95.80%
ONCY
Oncolytics Biotech
0.81
0.39
93.54%
CRDF
Cardiff Oncology
1.78
-1.25
-41.25%
NKTX
Nkarta
3.03
1.29
74.14%
STTK
Shattuck Labs
6.10
4.95
430.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.