Fate Therapeutics (NASDAQ:FATE) Stock Price Down 6.9%

Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) fell 6.9% during trading on Tuesday . The company traded as low as $26.80 and last traded at $27.11. 22,081 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,192,084 shares. The stock had previously closed at $29.12.

Analysts Set New Price Targets

A number of brokerages have commented on FATE. Morgan Stanley decreased their price objective on Fate Therapeutics from $45.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, September 9th. Oppenheimer reduced their target price on Fate Therapeutics from $135.00 to $90.00 in a report on Thursday, August 4th. Piper Sandler reduced their target price on Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. BMO Capital Markets raised Fate Therapeutics from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $50.00 to $47.00 in a report on Monday, July 11th. Finally, Robert W. Baird assumed coverage on Fate Therapeutics in a report on Thursday, June 2nd. They set a “neutral” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Fate Therapeutics has an average rating of “Moderate Buy” and an average price target of $74.46.

Fate Therapeutics Stock Up 1.9 %

The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -9.88 and a beta of 1.68. The company has a 50 day simple moving average of $30.26 and a 200 day simple moving average of $29.91.

Fate Therapeutics (NASDAQ:FATEGet Rating) last issued its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.07. The firm had revenue of $18.55 million during the quarter, compared to the consensus estimate of $13.42 million. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. As a group, analysts predict that Fate Therapeutics, Inc. will post -3.4 earnings per share for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other news, insider Mark Plavsic sold 3,719 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total transaction of $91,524.59. Following the sale, the insider now directly owns 127,123 shares in the company, valued at $3,128,497.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Edward J. Dulac III sold 5,135 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $29.81, for a total transaction of $153,074.35. Following the sale, the chief financial officer now directly owns 136,801 shares in the company, valued at $4,078,037.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Plavsic sold 3,719 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $24.61, for a total value of $91,524.59. Following the completion of the sale, the insider now owns 127,123 shares in the company, valued at $3,128,497.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,012 shares of company stock worth $1,749,685. Insiders own 17.34% of the company’s stock.

Institutional Trading of Fate Therapeutics

Several institutional investors have recently added to or reduced their stakes in FATE. Envestnet Asset Management Inc. bought a new stake in Fate Therapeutics in the fourth quarter valued at approximately $426,000. Dimensional Fund Advisors LP boosted its holdings in Fate Therapeutics by 29.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 414,477 shares of the biopharmaceutical company’s stock valued at $24,254,000 after acquiring an additional 95,408 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Fate Therapeutics by 31.8% in the fourth quarter. HighTower Advisors LLC now owns 17,345 shares of the biopharmaceutical company’s stock valued at $1,019,000 after acquiring an additional 4,182 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Fate Therapeutics by 23.4% in the fourth quarter. Teacher Retirement System of Texas now owns 14,696 shares of the biopharmaceutical company’s stock valued at $860,000 after acquiring an additional 2,783 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Fate Therapeutics by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,932,464 shares of the biopharmaceutical company’s stock valued at $113,069,000 after acquiring an additional 229,849 shares during the last quarter.

Fate Therapeutics Company Profile

(Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

Further Reading

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