Edward J. Dulac III Sells 1,770 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) CFO Edward J. Dulac III sold 1,770 shares of Fate Therapeutics stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of $48.45, for a total value of $85,756.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

FATE stock opened at $43.28 on Friday. Fate Therapeutics, Inc. has a 52-week low of $40.33 and a 52-week high of $119.85. The business has a 50-day simple moving average of $54.40 and a two-hundred day simple moving average of $66.87.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Thursday, November 4th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.13. Fate Therapeutics had a negative return on equity of 28.25% and a negative net margin of 359.66%. The firm had revenue of $14.23 million for the quarter, compared to the consensus estimate of $8.67 million. During the same quarter in the previous year, the business earned ($0.36) EPS. The company’s revenue was up 88.3% compared to the same quarter last year. On average, analysts forecast that Fate Therapeutics, Inc. will post -2.27 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eaton Vance Management boosted its stake in shares of Fate Therapeutics by 99.6% in the 3rd quarter. Eaton Vance Management now owns 545 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 272 shares during the last quarter. US Bancorp DE boosted its stake in shares of Fate Therapeutics by 51.3% in the 2nd quarter. US Bancorp DE now owns 790 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 268 shares during the last quarter. Corepath Wealth Partners LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $215,000. Profund Advisors LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $204,000. Finally, JustInvest LLC purchased a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Several research analysts have recently weighed in on the company. Guggenheim lowered their price objective on Fate Therapeutics from $107.00 to $78.00 in a research report on Monday, January 3rd. Cowen began coverage on Fate Therapeutics in a research report on Tuesday, December 7th. They issued an “outperform” rating for the company. Wedbush raised Fate Therapeutics from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $71.00 to $74.00 in a research report on Wednesday, December 15th. Roth Capital decreased their target price on Fate Therapeutics from $90.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $122.00 target price on shares of Fate Therapeutics in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $106.47.

About Fate Therapeutics

Fate Therapeutics, Inc engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products includes immuno-ocology candidates and immuno-regulation candidates. The company was founded by Philip Beachy, Sheng Ding, Rudolf Jaenisch, Randall T. Moon, Michael Rudnicki, David Scadden, Leonard Zon, Alexander Rives, Scott Wolchko, and John D.

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