Insider Selling: Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Sells 14,466 Shares of 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 dated Monday, August 4th. The shares were sold at an average price of $1.06, for a total transaction of $15,333.96. Following the sale, the chief executive officer owned 334,898 shares in the company, valued at approximately $354,991.88. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Fate Therapeutics Stock Down 6.0%

NASDAQ:FATE traded down $0.06 on Friday, reaching $0.92. The stock had a trading volume of 1,403,383 shares, compared to its average volume of 1,305,000. Fate Therapeutics, Inc. has a 1-year low of $0.66 and a 1-year high of $4.20. The company has a market capitalization of $105.59 million, a P/E ratio of -0.62 and a beta of 2.24. The stock has a fifty day moving average price of $1.20 and a 200-day moving average price of $1.15.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.07. Fate Therapeutics had a negative net margin of 1,318.93% and a negative return on equity of 47.17%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.18 million. Sell-side analysts predict that Fate Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FATE shares. Wall Street Zen upgraded shares of Fate Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays reduced their price target on shares of Fate Therapeutics from $10.00 to $2.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Robert W. Baird reduced 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, June 12th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Fate Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $3.83.

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors have recently modified their holdings of FATE. American Century Companies Inc. raised its stake in shares of Fate Therapeutics by 6.6% in the fourth 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. LPL Financial LLC bought a new stake in shares of Fate Therapeutics during the fourth quarter worth approximately $121,000. Franklin Resources Inc. raised its stake in shares of Fate Therapeutics by 9.6% during 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 during the last quarter. Wells Fargo & Company MN raised its stake in shares of Fate Therapeutics by 56.3% during the fourth quarter. Wells Fargo & Company MN now owns 92,395 shares of the biopharmaceutical company's stock worth $152,000 after buying an additional 33,284 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Fate Therapeutics by 42.9% during the fourth quarter. Russell Investments Group Ltd. now owns 89,823 shares of the biopharmaceutical company's stock worth $148,000 after buying an additional 26,953 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

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.