Insider Selling: Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Sells $13,405.70 in Stock

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) CEO Bahram Valamehr sold 8,705 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $1.54, for a total value of $13,405.70. Following the completion of the transaction, the chief executive officer now owns 349,364 shares of the company's stock, valued at $538,020.56. The trade was a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock traded down $0.18 during trading on Monday, hitting $1.29. 6,293,976 shares of the stock were exchanged, compared to its average volume of 3,257,535. The firm's 50-day moving average price is $2.16 and its 200 day moving average price is $3.11. The stock has a market cap of $146.92 million, a price-to-earnings ratio of -0.78 and a beta of 2.02. Fate Therapeutics, Inc. has a 12-month low of $1.28 and a 12-month high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced 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. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. As a group, research analysts forecast that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wedbush reiterated a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, Bank of America raised shares of Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Fate Therapeutics has a consensus rating of "Hold" and a consensus target price of $6.75.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Fate Therapeutics by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company's stock worth $6,431,000 after purchasing an additional 283,080 shares in the last quarter. Barclays PLC grew its stake in Fate Therapeutics by 245.3% during the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company's stock worth $1,485,000 after buying an additional 301,389 shares during the last quarter. Geode Capital Management LLC increased its position in Fate Therapeutics by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company's stock worth $7,905,000 after buying an additional 10,863 shares during the period. Walleye Capital LLC lifted its stake in Fate Therapeutics by 263.5% in the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company's stock valued at $237,000 after buying an additional 49,009 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Fate Therapeutics by 1,307.6% in the third quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company's stock valued at $610,000 after acquiring an additional 161,776 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.