Insider Selling: Fate Therapeutics Inc (NASDAQ:FATE) Director Sells $2,663,675.83 in Stock

Fate Therapeutics Inc (NASDAQ:FATE) Director Amir Nashat sold 118,333 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $22.51, for a total value of $2,663,675.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Amir Nashat also recently made the following trade(s):

  • On Friday, July 26th, Amir Nashat sold 27,829 shares of Fate Therapeutics stock. The shares were sold at an average price of $22.50, for a total value of $626,152.50.
  • On Wednesday, July 24th, Amir Nashat sold 81,899 shares of Fate Therapeutics stock. The shares were sold at an average price of $22.51, for a total value of $1,843,546.49.
  • On Thursday, July 18th, Amir Nashat sold 21,409 shares of Fate Therapeutics stock. The shares were sold at an average price of $22.50, for a total value of $481,702.50.
  • On Monday, July 22nd, Amir Nashat sold 71,166 shares of Fate Therapeutics stock. The stock was sold at an average price of $22.52, for a total value of $1,602,658.32.

Fate Therapeutics stock opened at $21.35 on Friday. Fate Therapeutics Inc has a twelve month low of $9.00 and a twelve month high of $22.82. The stock’s fifty day moving average is $20.85. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.94 and a beta of 1.65.

Fate Therapeutics (NASDAQ:FATE) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). The firm had revenue of $2.63 million for the quarter, compared to analyst estimates of $2.01 million. Fate Therapeutics had a negative return on equity of 54.30% and a negative net margin of 1,138.12%. The business’s revenue for the quarter was up 156.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.27) EPS. On average, equities research analysts expect that Fate Therapeutics Inc will post -1.32 EPS for the current year.

FATE has been the topic of a number of recent research reports. Roth Capital initiated coverage on Fate Therapeutics in a research report on Friday, June 7th. They set a “neutral” rating and a $20.00 price objective on the stock. Oppenheimer initiated coverage on Fate Therapeutics in a research report on Friday, July 12th. They set an “outperform” rating and a $27.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Fate Therapeutics in a research report on Monday, July 22nd. They set an “overweight” rating and a $32.00 price objective on the stock. Piper Jaffray Companies upped their price objective on Fate Therapeutics from $23.00 to $30.00 and gave the stock a “top pick” rating in a research report on Thursday, June 27th. Finally, Citigroup reaffirmed a “buy” rating and set a $26.00 price objective (up previously from $20.00) on shares of Fate Therapeutics in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.43.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Fate Therapeutics by 45.0% during the fourth quarter. BlackRock Inc. now owns 5,031,783 shares of the biopharmaceutical company’s stock worth $64,557,000 after purchasing an additional 1,562,252 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Fate Therapeutics by 49.7% during the first quarter. Victory Capital Management Inc. now owns 1,974,174 shares of the biopharmaceutical company’s stock worth $34,686,000 after purchasing an additional 655,314 shares in the last quarter. Northern Trust Corp grew its stake in shares of Fate Therapeutics by 17.8% during the fourth quarter. Northern Trust Corp now owns 735,512 shares of the biopharmaceutical company’s stock worth $9,437,000 after purchasing an additional 110,936 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fate Therapeutics by 36.3% during the fourth quarter. Geode Capital Management LLC now owns 702,179 shares of the biopharmaceutical company’s stock worth $9,008,000 after purchasing an additional 186,927 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Fate Therapeutics by 269.0% during the fourth quarter. Millennium Management LLC now owns 587,640 shares of the biopharmaceutical company’s stock worth $7,539,000 after purchasing an additional 428,399 shares in the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

Fate Therapeutics Company Profile

Fate Therapeutics, Inc operates as a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorder. The firm programme cellular therapeutics for the treatment of life threatening diseases, hematologic malignancies, genetic disorders and diseases resulting from the dysregulation of the immune system.

Featured Article: What is quantitative easing?

Insider Buying and Selling by Quarter for Fate Therapeutics (NASDAQ:FATE)

Receive News & Ratings for Fate Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.