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

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

Fate Therapeutics Trading Down 2.4 %

NASDAQ:FATE opened at $1.62 on Friday. The stock has a market capitalization of $184.51 million, a PE ratio of -0.98 and a beta of 1.95. Fate Therapeutics, Inc. has a 1-year low of $1.56 and a 1-year high of $8.83. The firm has a fifty day simple moving average of $2.41 and a 200 day simple moving average of $3.27.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) 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 the consensus estimate of $0.88 million. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. On average, equities analysts predict that Fate Therapeutics, Inc. will post -1.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Fate Therapeutics

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Fate Therapeutics by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,837,304 shares of the biopharmaceutical company’s stock worth $6,431,000 after acquiring an additional 283,080 shares during the period. Barclays PLC lifted its holdings in Fate Therapeutics by 245.3% during the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after purchasing an additional 301,389 shares during the last quarter. Geode Capital Management LLC boosted its position in Fate Therapeutics by 0.5% during the third 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 during the period. Walleye Capital LLC increased its holdings in shares of Fate Therapeutics by 263.5% in the third 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 holdings in shares of Fate Therapeutics by 1,307.6% in the third 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 during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.