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

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

Fate Therapeutics Trading Up 1.9%

Shares of Fate Therapeutics stock opened at $1.07 on Tuesday. The firm has a fifty day simple moving average of $1.05 and a 200-day simple moving average of $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 1-year low of $0.66 and a 1-year high of $1.94.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $1.63 million. Fate Therapeutics had a negative net margin of 2,187.11% and a negative return on equity of 51.28%. As a group, research analysts predict that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Fate Therapeutics by 0.4% in the third quarter. Vanguard Group Inc. now owns 8,798,491 shares of the biopharmaceutical company’s stock valued at $11,086,000 after buying an additional 31,727 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Fate Therapeutics by 67.8% in the first quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock valued at $1,952,000 after acquiring an additional 999,773 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fate Therapeutics by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company’s stock worth $2,721,000 after acquiring an additional 159,558 shares in the last quarter. Millennium Management LLC grew its position in Fate Therapeutics by 9.6% during the 3rd 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 last quarter. Finally, Two Sigma Investments LP grew its position in Fate Therapeutics by 294.4% during the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock worth $1,135,000 after acquiring an additional 672,352 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FATE shares. Cantor Fitzgerald restated a “neutral” rating on shares of Fate Therapeutics in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research note on Wednesday, October 8th. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $7.00 in a research note on Monday, October 27th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Monday, October 27th. Finally, Wall Street Zen lowered shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three 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 has a consensus rating of “Hold” and a consensus target price of $3.92.

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.