Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Sells $15,333.96 in Stock

Key Points

• CEO Bahram Valamehr sold 14,466 shares of Fate Therapeutics at an average price of <$1.06>, decreasing his ownership by 4.14% to 334,898 shares valued at approximately $354,991.88.
• Fate Therapeutics' stock recently increased 1.4% to $1.08, despite having a volatile trading history with a 1-year low of $0.66 and a high of $4.61.
• Analysts have mixed opinions on Fate Therapeutics; Barclays has cut its target price from $10.00 to $2.00 while Wall Street Zen upgraded the stock from "sell" to "hold," reflecting uncertainty about the company's performance.

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) CEO Bahram Valamehr sold 14,466 shares of Fate Therapeutics stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $1.06, for a total value of $15,333.96. Following the sale, the chief executive officer directly owned 334,898 shares in the company, valued at approximately $354,991.88. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Fate Therapeutics Trading Down 4.1%

Shares of Fate Therapeutics stock traded down $0.04 during trading hours on Thursday, reaching $1.00. 907,042 shares of the company's stock were exchanged, compared to its average volume of 2,054,173. The company has a 50 day moving average of $1.21 and a two-hundred day moving average of $1.16. Fate Therapeutics, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $4.20. The stock has a market cap of $114.26 million, a P/E ratio of -0.67 and a beta of 2.24.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.07. The firm had revenue of $1.63 million during the quarter, compared to analysts' expectations of $1.18 million. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. As a group, analysts expect that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

FATE has been the subject of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research note on Thursday, June 12th. Robert W. Baird decreased their price target on shares of Fate Therapeutics from $5.00 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Barclays reduced their price objective on Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded Fate Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Fate Therapeutics presently has a consensus rating of "Hold" and an average price target of $3.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of Fate Therapeutics by 6.6% during the 4th quarter. American Century Companies Inc. now owns 197,704 shares of the biopharmaceutical company's stock worth $326,000 after acquiring an additional 12,295 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Fate Therapeutics by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 165,353 shares of the biopharmaceutical company's stock worth $273,000 after buying an additional 14,532 shares in the last quarter. ProShare Advisors LLC boosted its position in Fate Therapeutics by 77.9% during the fourth quarter. ProShare Advisors LLC now owns 33,645 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 14,728 shares during the period. Renaissance Technologies LLC increased its position in shares of Fate Therapeutics by 4.4% during the fourth quarter. Renaissance Technologies LLC now owns 378,619 shares of the biopharmaceutical company's stock valued at $625,000 after buying an additional 16,000 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Fate Therapeutics by 22.0% during the 4th quarter. Hsbc Holdings PLC now owns 109,422 shares of the biopharmaceutical company's stock valued at $179,000 after buying an additional 19,706 shares during the last quarter. Institutional investors own 97.54% of the company's stock.

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.