Insider Selling: Fate Therapeutics (NASDAQ:FATE) Insider Sells 25,590 Shares of Stock

by · The Cerbat Gem

Fate Therapeutics, Inc. (NASDAQ:FATE – Get Free Report) insider Cindy Tahl sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total transaction of $48,109.20. Following the transaction, the insider owned 628,155 shares of the company’s stock, valued at $1,180,931.40. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fate Therapeutics Stock Performance

NASDAQ:FATE traded up $0.26 during mid-day trading on Thursday, hitting $2.10. 5,354,086 shares of the company’s stock traded hands, compared to its average volume of 2,034,254. The firm’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $1.25. Fate Therapeutics, Inc. has a 1 year low of $0.91 and a 1 year high of $2.47. The company has a market cap of $244.78 million, a PE ratio of -1.93 and a beta of 2.13.

Fate Therapeutics (NASDAQ:FATE – Get Free Report) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.49 million. On average, research analysts expect that Fate Therapeutics, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds have recently modified their holdings of the company. Savant Capital LLC boosted its stake in shares of Fate Therapeutics by 48.6% during the 3rd quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 11,763 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Fate Therapeutics by 73.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 12,114 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Fate Therapeutics by 161.2% in the fourth quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 24,013 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Fate Therapeutics by 20.0% in the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 24,423 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Fate Therapeutics in the second quarter worth approximately $28,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FATE shares. Jefferies Financial Group set a $4.00 target price on shares of Fate Therapeutics in a report on Tuesday. Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Finally, HC Wainwright raised their price target on shares of Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fate Therapeutics has an average rating of “Hold” and an average target price of $5.13.

View Our Latest Stock Analysis on FATE

Fate Therapeutics Company Profile

(Get Free Report)

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.

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