Cindy Tahl Sells 10,589 Shares of Fate Therapeutics (NASDAQ:FATE) 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 represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $1.02 on Wednesday. The stock has a market capitalization of $117.66 million, a P/E ratio of -0.77 and a beta of 2.22. The business has a 50 day simple moving average of $1.05 and a two-hundred day simple moving average of $1.13. Fate Therapeutics, Inc. has a 12 month low of $0.66 and a 12 month high of $1.94.

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

Analyst Ratings Changes

FATE has been the topic of several research reports. Wedbush raised shares of Fate Therapeutics from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $5.00 to $7.00 in a research note on Monday, October 27th. HC Wainwright raised shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Fate Therapeutics in a report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $3.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FATE. SG Americas Securities LLC lifted its stake in Fate Therapeutics by 161.2% during the 4th quarter. SG Americas Securities LLC now owns 38,913 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 24,013 shares in the last quarter. Millennium Management LLC grew its position in Fate Therapeutics by 9.6% in the 3rd quarter. Millennium Management LLC now owns 963,871 shares of the biopharmaceutical company’s stock valued at $1,214,000 after acquiring an additional 84,183 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Fate Therapeutics by 20.0% during the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 24,423 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Fate Therapeutics during the third quarter worth about $135,000. Finally, Man Group plc acquired a new position in shares of Fate Therapeutics in the third quarter valued at approximately $277,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.