Bahram Valamehr Sells 8,705 Shares of Fate Therapeutics, Inc. (NASDAQ:FATE) Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Bahram Valamehr sold 8,705 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $1.54, for a total transaction of $13,405.70. Following the completion of the sale, the chief executive officer now owns 349,364 shares of the company’s stock, valued at approximately $538,020.56. The trade was a 2.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fate Therapeutics Stock Performance

Shares of FATE opened at $1.32 on Thursday. Fate Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $8.83. The business has a 50-day moving average of $2.11 and a 200 day moving average of $3.09. The firm has a market cap of $150.34 million, a P/E ratio of -0.80 and a beta of 2.02.

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

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of FATE. Doheny Asset Management CA purchased a new position in shares of Fate Therapeutics in the second quarter valued at $263,000. Dark Forest Capital Management LP bought a new position in Fate Therapeutics in the 2nd quarter worth about $63,000. Castleview Partners LLC purchased a new position in Fate Therapeutics during the 3rd quarter valued at about $73,000. DRW Securities LLC bought a new stake in shares of Fate Therapeutics during the second quarter valued at about $71,000. Finally, Arizona State Retirement System purchased a new stake in shares of Fate Therapeutics in the second quarter worth about $84,000. Institutional investors own 97.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FATE shares. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.75.

Fate Therapeutics Company Profile

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.