Fate Therapeutics, Inc. (NASDAQ:FATE) Insider Daniel D. Shoemaker Sells 9,482 Shares

Fate Therapeutics, Inc. (NASDAQ:FATE) insider Daniel D. Shoemaker sold 9,482 shares of the business’s stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $114.95, for a total transaction of $1,089,955.90. Following the completion of the transaction, the insider now directly owns 90,336 shares of the company’s stock, valued at $10,384,123.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ FATE opened at $113.29 on Thursday. The stock has a market cap of $9.88 billion, a P/E ratio of -61.57 and a beta of 1.84. The firm has a 50 day moving average price of $88.49 and a 200 day moving average price of $51.78. Fate Therapeutics, Inc. has a 52-week low of $16.75 and a 52-week high of $118.79.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.39). The firm had revenue of $7.56 million for the quarter, compared to analyst estimates of $7.49 million. Fate Therapeutics had a negative net margin of 810.13% and a negative return on equity of 35.51%. The firm’s revenue for the quarter was up 211.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. On average, analysts forecast that Fate Therapeutics, Inc. will post -1.53 EPS for the current year.

FATE has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. Wedbush boosted their target price on shares of Fate Therapeutics from $55.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 7th. Wells Fargo & Company boosted their target price on shares of Fate Therapeutics from $61.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, December 7th. Oppenheimer boosted their price target on shares of Fate Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, December 7th. Finally, Barclays boosted their price target on shares of Fate Therapeutics from $80.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 17th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.68.

Several institutional investors have recently added to or reduced their stakes in the company. Epiq Partners LLC boosted its holdings in shares of Fate Therapeutics by 13.6% in the fourth quarter. Epiq Partners LLC now owns 43,468 shares of the biopharmaceutical company’s stock valued at $3,953,000 after buying an additional 5,205 shares during the period. Strs Ohio boosted its holdings in shares of Fate Therapeutics by 92.6% in the third quarter. Strs Ohio now owns 5,200 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 2,500 shares during the period. Sei Investments Co. boosted its holdings in shares of Fate Therapeutics by 28.0% in the third quarter. Sei Investments Co. now owns 20,645 shares of the biopharmaceutical company’s stock valued at $823,000 after buying an additional 4,522 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Fate Therapeutics in the third quarter valued at approximately $364,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Fate Therapeutics in the third quarter valued at approximately $221,000. Institutional investors own 97.45% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development includes FT516 for the treatment of acute myeloid leukemia (AML) and B-cell lymphoma, FT596 to treat B-cell lymphoma and CLL, FT538 to treat AML and multiple myeloma, FT576 to treat multiple myeloma, FT819 to treat B-cell malignancies, and FT-ONO1 to treat hematologic malignancies; and FT500, FT516, and FT-ONO2 for the treatment of advanced solid tumors.

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