Insider Selling: Fate Therapeutics (NASDAQ:FATE) Insider Sells $11,224.34 in Stock

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

Fate Therapeutics Stock Performance

FATE opened at $1.08 on Thursday. The company has a fifty day moving average price of $1.05 and a two-hundred day moving average price of $1.13. The firm has a market capitalization of $124.58 million, a PE ratio of -0.82 and a beta of 2.22. Fate Therapeutics, Inc. has a 52 week low of $0.66 and a 52 week 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 analysts’ consensus estimates of ($0.29) by $0.02. The business 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%. Equities analysts forecast that Fate Therapeutics, Inc. will post -1.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wedbush upgraded shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $5.00 to $7.00 in a research report on Monday, October 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Monday, October 27th. Wall Street Zen cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.92.

Hedge Funds Weigh In On Fate Therapeutics

Hedge funds have recently made changes to their positions in the business. Comerica Bank lifted its position in shares of Fate Therapeutics by 55,698.6% in the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 81,877 shares in the last quarter. AQR Capital Management LLC increased its stake in Fate Therapeutics by 296.4% in the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock valued at $462,000 after buying an additional 437,423 shares during the last quarter. Jane Street Group LLC lifted its position in Fate Therapeutics by 106.9% during the 1st quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 32,911 shares in the last quarter. Acadian Asset Management LLC lifted its position in Fate Therapeutics by 67.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,473,565 shares of the biopharmaceutical company’s stock worth $1,952,000 after buying an additional 999,773 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Fate Therapeutics by 65.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,364 shares of the biopharmaceutical company’s stock worth $80,000 after buying an additional 28,268 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

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.