Insider Buying: Fate Therapeutics, Inc. (NASDAQ:FATE) Director Purchases 397,964 Shares of Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) Director Redmile Group, Llc bought 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, for a total transaction 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 approximately $21,645,585.36. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fate Therapeutics Stock Down 2.4 %

Fate Therapeutics stock opened at $1.62 on Friday. The stock has a market cap of $184.51 million, a PE ratio of -0.98 and a beta of 1.95. Fate Therapeutics, Inc. has a 12-month low of $1.56 and a 12-month high of $8.83. The business’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $3.27.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data 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 net margin of 1,325.43% and a negative return on equity of 45.88%. The business had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. As a group, analysts expect that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Doheny Asset Management CA acquired a new position in Fate Therapeutics in the 2nd quarter worth about $263,000. Ausdal Financial Partners Inc. bought a new stake in shares of Fate Therapeutics during the second quarter worth about $33,000. Dark Forest Capital Management LP acquired a new position in shares of Fate Therapeutics in the second quarter valued at approximately $63,000. Castleview Partners LLC bought a new position in Fate Therapeutics in the 3rd quarter valued at approximately $73,000. Finally, DRW Securities LLC bought a new position in Fate Therapeutics in the 2nd quarter valued at approximately $71,000. 97.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective 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 assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.