Fate Therapeutics, Inc. (NASDAQ:FATE) Director Redmile Group, Llc Acquires 397,964 Shares

Fate Therapeutics, Inc. (NASDAQ:FATE) Director Redmile Group, Llc acquired 397,964 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the transaction, the director now directly owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This represents a 3.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $1.61 on Friday. Fate Therapeutics, Inc. has a 1 year low of $1.56 and a 1 year high of $8.83. The business has a 50 day moving average price of $2.38 and a 200 day moving average price of $3.26. The company has a market capitalization of $183.37 million, a P/E ratio of -0.98 and a beta of 1.95.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, research analysts expect that Fate Therapeutics, Inc. will post -1.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Fate Therapeutics by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock valued at $1,227,000 after buying an additional 72,139 shares during the last quarter. Rhumbline Advisers raised its holdings in Fate Therapeutics by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after acquiring an additional 15,825 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Fate Therapeutics during the 2nd quarter worth $84,000. Acadian Asset Management LLC boosted its holdings in shares of Fate Therapeutics by 17.2% during the second quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock worth $6,587,000 after purchasing an additional 294,738 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics during the second quarter worth $33,000. 97.54% of the stock is currently owned by hedge funds and other 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.