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

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction on Friday, December 20th. The stock was bought at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the acquisition, the director now directly owns 12,884,277 shares of the company's stock, valued at $21,645,585.36. This trade represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Fate Therapeutics Trading Down 2.4 %

Fate Therapeutics stock traded down $0.04 during trading on Thursday, reaching $1.62. The company had a trading volume of 2,320,261 shares, compared to its average volume of 2,446,892. The firm has a market capitalization of $184.51 million, a price-to-earnings ratio of -0.98 and a beta of 1.95. The firm's 50-day simple moving average is $2.41 and its 200 day simple moving average is $3.27. Fate Therapeutics, Inc. has a 52 week low of $1.56 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating 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. On average, analysts predict that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Institutional Investors Weigh In On Fate Therapeutics

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America upgraded Fate Therapeutics from an "underperform" rating to a "neutral" rating in a research note on Monday, November 18th. Needham & Company LLC reissued a "hold" rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fate Therapeutics presently has a consensus 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.

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