Key Points
- Insider sale: Fate Therapeutics insider Cindy Tahl sold 25,590 shares at an average price of $1.88, totaling about $48,109. The sale reduced her holdings by 3.91% and was done to cover tax withholding tied to equity award vesting.
- Stock performance: Fate Therapeutics shares were up 14.1% and opened at $2.10, giving the company a market cap of about $244.78 million. The stock has traded between $0.91 and $2.47 over the past year.
- Business and outlook: The company reported a smaller-than-expected quarterly loss of $0.26 per share, though revenue missed estimates. Analysts currently have a consensus Hold rating with a $5.13 target price.
Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) insider Cindy Tahl sold 25,590 shares of Fate Therapeutics stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $1.88, for a total transaction of $48,109.20. Following the completion of the sale, the insider owned 628,155 shares of the company's stock, valued at approximately $1,180,931.40. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Fate Therapeutics Trading Up 14.1%
Shares of FATE stock opened at $2.10 on Friday. The stock has a market cap of $244.78 million, a P/E ratio of -1.93 and a beta of 2.13. Fate Therapeutics, Inc. has a 1 year low of $0.91 and a 1 year high of $2.47. The stock has a 50 day simple moving average of $1.46 and a 200 day simple moving average of $1.26.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $1.49 million. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. Analysts forecast that Fate Therapeutics, Inc. will post -1.08 EPS for the current year.
Institutional Trading of Fate Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of FATE. Comerica Bank increased its holdings in Fate Therapeutics by 55,698.6% in the first quarter. Comerica Bank now owns 82,024 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 81,877 shares during the period. AQR Capital Management LLC grew its position in shares of Fate Therapeutics by 296.4% in the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company's stock valued at $462,000 after buying an additional 437,423 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Fate Therapeutics by 106.9% in the first quarter. Jane Street Group LLC now owns 63,691 shares of the biopharmaceutical company's stock valued at $50,000 after buying an additional 32,911 shares during the period. Geode Capital Management LLC increased its stake in shares of Fate Therapeutics by 7.0% in the second quarter. Geode Capital Management LLC now owns 2,429,167 shares of the biopharmaceutical company's stock valued at $2,721,000 after buying an additional 159,558 shares during the period. Finally, Invesco Ltd. raised its position in shares of Fate Therapeutics by 19.6% during the second quarter. Invesco Ltd. now owns 255,372 shares of the biopharmaceutical company's stock worth $286,000 after acquiring an additional 41,869 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
FATE has been the topic of a number of research reports. Weiss Ratings raised shares of Fate Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 13th. HC Wainwright increased their price target on Fate Therapeutics from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group set a $4.00 price objective on Fate Therapeutics in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.13.
Read Our Latest Stock Report on FATE
Fate Therapeutics Company Profile
(
Get Free Report)
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.
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