Cindy Tahl Sells 25,590 Shares of Fate Therapeutics (NASDAQ:FATE) Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Cindy Tahl sold 25,590 shares of the business’s 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 sale, the insider owned 628,155 shares in the company, valued at $1,180,931.40. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fate Therapeutics Price Performance

FATE stock opened at $2.25 on Friday. Fate Therapeutics, Inc. has a 52-week low of $0.91 and a 52-week high of $2.46. The company’s 50 day simple moving average is $1.48 and its 200-day simple moving average is $1.27. The firm has a market capitalization of $262.26 million, a P/E ratio of -2.06 and a beta of 2.13.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Fate Therapeutics had a negative net margin of 2,056.79% and a negative return on equity of 58.89%. The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $1.49 million. Sell-side analysts predict that Fate Therapeutics, Inc. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on FATE. Jefferies Financial Group set a $4.00 target price on shares of Fate Therapeutics in a research note on Tuesday. 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. Finally, HC Wainwright lifted their target price on shares of Fate Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Three equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.13.

Institutional Trading of Fate Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Savant Capital LLC grew its position in Fate Therapeutics by 48.6% in the third quarter. Savant Capital LLC now owns 35,968 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 11,763 shares in the last quarter. Russell Investments Group Ltd. grew its position in Fate Therapeutics by 73.1% in the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 12,114 shares in the last quarter. SG Americas Securities LLC grew its position in Fate Therapeutics by 161.2% in the fourth 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. Bank of America Corp DE grew its position in Fate Therapeutics by 20.0% in the third quarter. Bank of America Corp DE now owns 146,553 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 24,423 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in Fate Therapeutics in the second quarter worth approximately $28,000. 97.54% of the stock is owned by institutional investors.

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.