Chris Storgard Buys 37,593 Shares of Fate Therapeutics Inc. (FATE) Stock
Fate Therapeutics Inc. (NASDAQ:FATE) insider Chris Storgard bought 37,593 shares of Fate Therapeutics stock in a transaction on Wednesday, November 23rd. The shares were bought at an average cost of $2.66 per share, with a total value of $99,997.38. Following the acquisition, the insider now directly owns 9,090 shares in the company, valued at $24,179.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Fate Therapeutics Inc. (NASDAQ:FATE) opened at 3.09 on Wednesday. Fate Therapeutics Inc. has a 12 month low of $1.46 and a 12 month high of $4.67. The company’s market cap is $105.52 million. The stock’s 50 day moving average price is $2.51 and its 200-day moving average price is $2.28.
Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. Fate Therapeutics had a negative return on equity of 112.48% and a negative net margin of 740.69%. Equities research analysts expect that Fate Therapeutics Inc. will post ($1.14) earnings per share for the current year.
A number of research analysts have weighed in on FATE shares. Zacks Investment Research lowered Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Roth Capital started coverage on Fate Therapeutics in a report on Thursday, September 22nd. They set a “buy” rating and a $8.00 target price for the company. Wedbush reduced their target price on Fate Therapeutics from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th. HC Wainwright reaffirmed a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, August 9th. Finally, BMO Capital Markets set a $4.00 target price on Fate Therapeutics and gave the company a “buy” rating in a report on Monday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $5.79.
A number of institutional investors have recently added to or reduced their stakes in FATE. Northern Trust Corp boosted its position in Fate Therapeutics by 51.3% in the third quarter. Northern Trust Corp now owns 38,625 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 13,094 shares in the last quarter. Redmile Group LLC boosted its position in Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock valued at $2,554,000 after buying an additional 15,200 shares in the last quarter. Lombard Odier Asset Management USA Corp boosted its position in Fate Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 256,426 shares of the biopharmaceutical company’s stock valued at $436,000 after buying an additional 7,052 shares in the last quarter. Board of Trustees of The Leland Stanford Junior University purchased a new position in Fate Therapeutics during the second quarter valued at $495,000. Finally, BlackRock Fund Advisors boosted its position in Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 15,701 shares in the last quarter. Institutional investors and hedge funds own 57.07% of the company’s stock.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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