Insider Selling: Fate Therapeutics (NASDAQ:FATE) Insider Sells 10,589 Shares of Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Cindy Tahl sold 10,589 shares of Fate Therapeutics stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $1.06, for a total value of $11,224.34. Following the completion of the sale, the insider directly owned 387,081 shares in the company, valued at approximately $410,305.86. This represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Fate Therapeutics Stock Performance

NASDAQ FATE traded up $0.02 during trading hours on Monday, hitting $1.07. 1,912,580 shares of the company traded hands, compared to its average volume of 1,687,140. The business’s 50-day moving average is $1.05 and its 200-day moving average is $1.13. The stock has a market capitalization of $123.42 million, a price-to-earnings ratio of -0.81 and a beta of 2.22. Fate Therapeutics, Inc. has a twelve month low of $0.66 and a twelve month high of $1.94.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. The company had revenue of $1.74 million during the quarter, compared to the consensus estimate of $1.63 million. Fate Therapeutics had a negative return on equity of 51.28% and a negative net margin of 2,187.11%. Analysts predict that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Analysts Set New Price Targets

FATE has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a report on Monday, October 27th. HC Wainwright upgraded Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Friday, October 31st. Wedbush upgraded Fate Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $7.00 in a research report on Monday, October 27th. Finally, Wall Street Zen cut shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.92.

Institutional Trading of Fate Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Savant Capital LLC boosted its stake in Fate Therapeutics by 48.6% in the third quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 11,763 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Fate Therapeutics by 73.1% in the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 12,114 shares during the last quarter. CWM LLC boosted its stake in shares of Fate Therapeutics by 33.7% in the 3rd quarter. CWM LLC now owns 66,093 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 16,655 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Fate Therapeutics by 161.2% during the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 24,013 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Fate Therapeutics by 20.0% during the 3rd quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 24,423 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

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.