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

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Cindy Tahl sold 25,590 shares of Fate Therapeutics stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the transaction, the insider owned 628,155 shares of the company’s stock, valued at $1,180,931.40. The trade was a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fate Therapeutics Stock Up 14.1%

Shares of NASDAQ FATE opened at $2.10 on Friday. The business’s 50 day moving average price is $1.46 and its two-hundred day moving average price is $1.26. The company has a market cap of $244.78 million, a PE ratio of -1.93 and a beta of 2.13. Fate Therapeutics, Inc. has a twelve month low of $0.91 and a twelve month high of $2.47.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. As a group, research analysts anticipate that Fate Therapeutics, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in FATE. Vanguard Group Inc. increased its position in Fate Therapeutics by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock worth $11,086,000 after buying an additional 31,727 shares during the period. Renaissance Technologies LLC boosted its position in shares of Fate Therapeutics by 26.0% in the first quarter. Renaissance Technologies LLC now owns 2,974,683 shares of the biopharmaceutical company’s stock valued at $3,570,000 after acquiring an additional 613,802 shares during the period. Geode Capital Management LLC boosted its position in shares of Fate Therapeutics by 7.0% in the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock valued at $2,721,000 after acquiring an additional 159,558 shares during the period. AQR Capital Management LLC grew its stake in shares of Fate Therapeutics by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,162,005 shares of the biopharmaceutical company’s stock valued at $1,142,000 after acquiring an additional 30,591 shares in the last quarter. Finally, Millennium Management LLC increased its position in Fate Therapeutics by 9.6% during the third quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock worth $1,214,000 after acquiring an additional 84,183 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FATE has been the topic of several research reports. HC Wainwright upped their price objective on shares of Fate Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group set a $4.00 price target on shares of Fate Therapeutics in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.13.

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.