Insider Selling: Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Sells $1,600,550.16 in Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) CEO J Scott Wolchko sold 34,156 shares of the stock in a transaction on Monday, January 10th. The stock was sold at an average price of $46.86, for a total transaction of $1,600,550.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

J Scott Wolchko also recently made the following trade(s):

  • On Thursday, November 18th, J Scott Wolchko sold 20,000 shares of Fate Therapeutics stock. The stock was sold at an average price of $54.27, for a total transaction of $1,085,400.00.
  • On Thursday, October 21st, J Scott Wolchko sold 30,000 shares of Fate Therapeutics stock. The shares were sold at an average price of $60.22, for a total transaction of $1,806,600.00.

Fate Therapeutics stock opened at $43.28 on Friday. Fate Therapeutics, Inc. has a 12-month low of $40.33 and a 12-month high of $119.85. The stock has a market cap of $4.13 billion, a P/E ratio of -20.42 and a beta of 1.46. The company has a 50-day moving average price of $54.40 and a 200 day moving average price of $66.87.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 4th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.13. Fate Therapeutics had a negative net margin of 359.66% and a negative return on equity of 28.25%. The firm had revenue of $14.23 million during the quarter, compared to analysts’ expectations of $8.67 million. During the same period last year, the business earned ($0.36) earnings per share. Fate Therapeutics’s revenue was up 88.3% compared to the same quarter last year. Research analysts anticipate that Fate Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Eaton Vance Management increased its position in Fate Therapeutics by 99.6% during the third quarter. Eaton Vance Management now owns 545 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 272 shares during the last quarter. US Bancorp DE increased its position in Fate Therapeutics by 51.3% during the second quarter. US Bancorp DE now owns 790 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 268 shares during the last quarter. Corepath Wealth Partners LLC acquired a new stake in Fate Therapeutics during the second quarter worth about $215,000. Profund Advisors LLC acquired a new stake in Fate Therapeutics during the second quarter worth about $204,000. Finally, JustInvest LLC acquired a new stake in Fate Therapeutics during the second quarter worth about $215,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Several analysts recently commented on FATE shares. Citigroup upgraded shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and dropped their price target for the company from $94.00 to $87.00 in a research report on Monday, November 8th. Roth Capital decreased their price objective on shares of Fate Therapeutics from $90.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, November 5th. SVB Leerink decreased their price objective on shares of Fate Therapeutics from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $122.00 price objective on shares of Fate Therapeutics in a report on Tuesday. Finally, Guggenheim decreased their price objective on shares of Fate Therapeutics from $107.00 to $78.00 in a report on Monday, January 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Fate Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $106.47.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.

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