Fate Therapeutics, Inc. (NASDAQ:FATE) Director Purchases $668,579.52 in Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the transaction, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fate Therapeutics Stock Performance

Shares of Fate Therapeutics stock opened at $1.61 on Friday. The company has a market capitalization of $183.37 million, a P/E ratio of -0.98 and a beta of 1.95. Fate Therapeutics, Inc. has a 1 year low of $1.56 and a 1 year high of $8.83. The company’s fifty day moving average is $2.38 and its two-hundred day moving average is $3.26.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The firm had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, equities analysts expect that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Fate Therapeutics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after purchasing an additional 5,605 shares during the period. Doheny Asset Management CA purchased a new position in Fate Therapeutics during the 2nd quarter worth $263,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics in the 2nd quarter worth $33,000. Geode Capital Management LLC lifted its stake in shares of Fate Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after acquiring an additional 10,863 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Fate Therapeutics by 40.7% in the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 12,230 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FATE shares. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Wedbush restated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.75.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.