Fate Therapeutics (NASDAQ:FATE) Sets New 52-Week Low Following Insider Selling

Fate Therapeutics, Inc. (NASDAQ:FATE) shares reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $43.19 and last traded at $44.87, with a volume of 75212 shares changing hands. The stock had previously closed at $45.05.

Specifically, CEO J Scott Wolchko sold 30,000 shares of Fate Therapeutics stock in a transaction on Thursday, October 21st. The shares were sold at an average price of $60.22, for a total value of $1,806,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Edward J. Dulac III sold 1,770 shares of Fate Therapeutics stock in a transaction on Tuesday, January 11th. The stock was sold at an average price of $48.45, for a total transaction of $85,756.50. The disclosure for this sale can be found here. Insiders sold 151,702 shares of company stock worth $7,925,537 over the last ninety days. Corporate insiders own 18.58% of the company’s stock.

A number of brokerages have recently weighed in on FATE. HC Wainwright reissued a “buy” rating and set a $122.00 price objective on shares of Fate Therapeutics in a report on Tuesday. Roth Capital decreased their target price on shares of Fate Therapeutics from $90.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, November 5th. Morgan Stanley decreased their target price on shares of Fate Therapeutics from $74.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 15th. Wedbush upgraded shares of 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. Finally, Citigroup upgraded shares of Fate Therapeutics from a “neutral” rating to a “buy” rating and decreased their target price for the company from $94.00 to $87.00 in a research report on Monday, November 8th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Fate Therapeutics has a consensus rating of “Buy” and an average price target of $106.47.

The company has a market cap of $4.13 billion, a PE ratio of -20.42 and a beta of 1.46. The firm’s 50 day moving average is $54.40 and its 200-day moving average is $66.87.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Thursday, November 4th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.13. Fate Therapeutics had a negative net margin of 359.66% and a negative return on equity of 28.25%. The business had revenue of $14.23 million during the quarter, compared to analysts’ expectations of $8.67 million. During the same quarter in the prior year, the company posted ($0.36) EPS. The business’s revenue for the quarter was up 88.3% on a year-over-year basis. On average, sell-side analysts expect that Fate Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Bridgefront Capital LLC grew its stake in shares of Fate Therapeutics by 5.8% in the 2nd quarter. Bridgefront Capital LLC now owns 2,769 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 153 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Fate Therapeutics by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 32,013 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 200 shares during the period. Metropolitan Life Insurance Co NY boosted its position in shares of Fate Therapeutics by 1.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 21,844 shares of the biopharmaceutical company’s stock worth $1,295,000 after purchasing an additional 238 shares during the period. Dowling & Yahnke LLC boosted its position in shares of Fate Therapeutics by 0.8% during the 3rd quarter. Dowling & Yahnke LLC now owns 30,890 shares of the biopharmaceutical company’s stock worth $1,831,000 after purchasing an additional 250 shares during the period. Finally, US Bancorp DE boosted its position in shares of Fate Therapeutics by 51.3% during the 2nd quarter. US Bancorp DE now owns 790 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 268 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Company Profile (NASDAQ:FATE)

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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