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

Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Bahram Valamehr sold 8,705 shares of the stock in a transaction dated Friday, January 10th. The stock was 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 approximately $538,020.56. This represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Fate Therapeutics Trading Down 2.7 %

Shares of Fate Therapeutics stock opened at $1.26 on Wednesday. Fate Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $8.83. The firm has a market capitalization of $142.94 million, a P/E ratio of -0.76 and a beta of 2.02. The business has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $3.10.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating 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 net margin of 1,325.43% and a negative return on equity of 45.88%. Analysts predict that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $6.75.

Institutional Trading of Fate Therapeutics

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Fate Therapeutics by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock valued at $6,431,000 after buying an additional 283,080 shares during the last quarter. Barclays PLC raised its position in shares of Fate Therapeutics by 245.3% in the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock worth $1,485,000 after purchasing an additional 301,389 shares during the last quarter. Geode Capital Management LLC boosted its stake in Fate Therapeutics by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after purchasing an additional 10,863 shares in the last quarter. Walleye Capital LLC grew its position in Fate Therapeutics by 263.5% during the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 49,009 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock valued at $610,000 after purchasing an additional 161,776 shares in 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.