Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Bahram Valamehr Sells 8,705 Shares

Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Bahram Valamehr sold 8,705 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $1.54, for a total transaction of $13,405.70. Following the sale, the chief executive officer now owns 349,364 shares of the company’s stock, valued at $538,020.56. This trade represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Fate Therapeutics Stock Down 11.9 %

NASDAQ FATE opened at $1.29 on Tuesday. Fate Therapeutics, Inc. has a twelve month low of $1.28 and a twelve month high of $8.83. The stock has a market cap of $146.92 million, a P/E ratio of -0.78 and a beta of 2.02. The company’s 50-day simple moving average is $2.16 and its 200 day simple moving average is $3.11.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Research analysts anticipate that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on FATE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Doheny Asset Management CA acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth about $263,000. Dark Forest Capital Management LP acquired a new stake in shares of Fate Therapeutics during the second quarter worth approximately $63,000. Castleview Partners LLC bought a new position in shares of Fate Therapeutics in the third quarter valued at approximately $73,000. DRW Securities LLC bought a new position in shares of Fate Therapeutics in the second quarter valued at approximately $71,000. Finally, Arizona State Retirement System acquired a new position in shares of Fate Therapeutics in the 2nd quarter worth approximately $84,000. 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.