Insider Selling: Fate Therapeutics (NASDAQ:FATE) Insider Sells $48,109.20 in Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Cindy Tahl sold 25,590 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total value of $48,109.20. Following the transaction, the insider owned 628,155 shares in the company, valued at approximately $1,180,931.40. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fate Therapeutics Price Performance

Shares of FATE stock opened at $2.25 on Friday. Fate Therapeutics, Inc. has a 1-year low of $0.91 and a 1-year high of $2.46. The stock’s fifty day moving average price is $1.48 and its 200 day moving average price is $1.27. The company has a market cap of $262.26 million, a price-to-earnings ratio of -2.06 and a beta of 2.13.

Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%.The firm had revenue of $1.30 million for the quarter, compared to the consensus estimate of $1.49 million. As a group, equities research analysts anticipate that Fate Therapeutics, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FATE. HC Wainwright boosted their target price on Fate Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Jefferies Financial Group set a $4.00 target price on Fate Therapeutics in a research note on Tuesday. Finally, Weiss Ratings upgraded Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fate Therapeutics presently has a consensus rating of “Hold” and an average target price of $5.13.

Institutional Trading of Fate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC acquired a new stake in Fate Therapeutics during the 2nd quarter worth about $28,000. Commonwealth Equity Services LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $26,000. Russell Investments Group Ltd. lifted its holdings in shares of Fate Therapeutics by 73.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 12,114 shares during the period. Corient Private Wealth LLC acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $29,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Fate Therapeutics in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.