Fate Therapeutics (NASDAQ:FATE) Trading Up 7.1%

Shares of Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) were up 7.1% on Wednesday . The stock traded as high as $7.29 and last traded at $7.28. Approximately 1,135,102 shares changed hands during trading, a decline of 61% from the average daily volume of 2,887,590 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Fate Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Bank of America boosted their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an "underperform" rating in a research note on Thursday, March 28th. Morgan Stanley increased their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 27th. Oppenheimer reiterated a "market perform" rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. Finally, HC Wainwright reiterated a "neutral" rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Fate Therapeutics currently has an average rating of "Hold" and an average target price of $6.73.

Fate Therapeutics Stock Up 3.1 %

The firm has a market capitalization of $695.67 million, a price-to-earnings ratio of -4.27 and a beta of 1.66. The stock has a 50 day moving average of $6.89 and a 200 day moving average of $4.18.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. The firm had revenue of $1.68 million during the quarter, compared to analyst estimates of $0.85 million. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. Analysts predict that Fate Therapeutics, Inc. will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Cindy Tahl sold 10,874 shares of the company's stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $4.37, for a total transaction of $47,519.38. Following the completion of the transaction, the general counsel now directly owns 142,361 shares of the company's stock, valued at $622,117.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Cindy Tahl sold 10,874 shares of the company's stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $4.37, for a total transaction of $47,519.38. Following the completion of the transaction, the general counsel now owns 142,361 shares in the company, valued at $622,117.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Scott Wolchko sold 14,391 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $4.37, for a total transaction of $62,888.67. Following the completion of the sale, the chief executive officer now directly owns 371,248 shares in the company, valued at approximately $1,622,353.76. The disclosure for this sale can be found here. Insiders have sold 45,413 shares of company stock valued at $199,732 over the last quarter. Insiders own 5.04% of the company's stock.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in Fate Therapeutics by 19.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 590,993 shares of the biopharmaceutical company's stock valued at $2,210,000 after acquiring an additional 96,527 shares in the last quarter. Barclays PLC grew its position in Fate Therapeutics by 202.6% in the 4th quarter. Barclays PLC now owns 359,375 shares of the biopharmaceutical company's stock valued at $1,344,000 after buying an additional 240,624 shares in the last quarter. Voya Investment Management LLC grew its position in Fate Therapeutics by 14.0% in the 4th quarter. Voya Investment Management LLC now owns 93,313 shares of the biopharmaceutical company's stock valued at $349,000 after buying an additional 11,492 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Fate Therapeutics by 9.6% during the 4th quarter. Nuveen Asset Management LLC now owns 314,571 shares of the biopharmaceutical company's stock valued at $1,176,000 after buying an additional 27,621 shares during the period. Finally, Brevan Howard Capital Management LP raised its position in shares of Fate Therapeutics by 120.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 38,230 shares of the biopharmaceutical company's stock worth $143,000 after buying an additional 20,893 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.