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

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Cindy Tahl sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the completion of the sale, the insider directly owned 628,155 shares in the company, valued at $1,180,931.40. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fate Therapeutics Stock Up 14.1%

Shares of FATE traded up $0.26 during mid-day trading on Thursday, hitting $2.10. The company had a trading volume of 5,354,086 shares, compared to its average volume of 2,034,254. The business’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.25. Fate Therapeutics, Inc. has a 1-year low of $0.91 and a 1-year high of $2.47. The stock has a market cap of $244.78 million, a PE ratio of -1.93 and a beta of 2.13.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $1.49 million. On average, sell-side analysts expect that Fate Therapeutics, Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. HC Wainwright lifted their price target on shares of Fate Therapeutics from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group set a $4.00 price target on shares of Fate Therapeutics in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Commonwealth Equity Services LLC acquired a new position in Fate Therapeutics during the fourth quarter valued at approximately $26,000. Bridgeway Capital Management LLC acquired a new position in Fate Therapeutics during the second quarter valued at approximately $28,000. Corient Private Wealth LLC acquired a new position in Fate Therapeutics during the fourth quarter valued at approximately $29,000. The Manufacturers Life Insurance Company acquired a new position in Fate Therapeutics during the fourth quarter valued at approximately $35,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Fate Therapeutics by 73.1% during the third quarter. Russell Investments Group Ltd. now owns 28,676 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 12,114 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

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.