Fate Therapeutics (NASDAQ:FATE) Trading Down 6.9%

Fate Therapeutics, Inc. (NASDAQ:FATEGet Rating) fell 6.9% during trading on Tuesday . The company traded as low as $26.80 and last traded at $27.11. 22,081 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,192,084 shares. The stock had previously closed at $29.12.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FATE. Robert W. Baird began coverage on Fate Therapeutics in a research report on Thursday, June 2nd. They issued a “neutral” rating and a $28.00 price target for the company. BMO Capital Markets raised Fate Therapeutics from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $50.00 to $47.00 in a research report on Monday, July 11th. Oppenheimer lowered their price target on Fate Therapeutics from $135.00 to $90.00 in a research report on Thursday, August 4th. Piper Sandler reduced their price objective on Fate Therapeutics from $113.00 to $71.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Finally, Morgan Stanley reduced their price objective on Fate Therapeutics from $45.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.46.

Fate Therapeutics Stock Performance

The company has a market cap of $2.53 billion, a P/E ratio of -9.88 and a beta of 1.68. The firm has a 50 day moving average price of $30.26 and a two-hundred day moving average price of $29.91.

Fate Therapeutics (NASDAQ:FATEGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.07. The company had revenue of $18.55 million during the quarter, compared to the consensus estimate of $13.42 million. Fate Therapeutics had a negative return on equity of 40.37% and a negative net margin of 371.73%. On average, sell-side analysts predict that Fate Therapeutics, Inc. will post -3.4 EPS for the current fiscal year.

Insider Transactions at Fate Therapeutics

In other news, CFO Edward J. Dulac III sold 5,135 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $29.81, for a total transaction of $153,074.35. Following the completion of the transaction, the chief financial officer now owns 136,801 shares in the company, valued at approximately $4,078,037.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fate Therapeutics news, CFO Edward J. Dulac III sold 5,135 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $29.81, for a total value of $153,074.35. Following the completion of the transaction, the chief financial officer now owns 136,801 shares in the company, valued at approximately $4,078,037.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Plavsic sold 3,719 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $24.61, for a total value of $91,524.59. Following the completion of the transaction, the insider now owns 127,123 shares of the company’s stock, valued at approximately $3,128,497.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,012 shares of company stock worth $1,749,685. 17.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently modified their holdings of FATE. Envestnet Asset Management Inc. purchased a new position in shares of Fate Therapeutics during the 4th quarter valued at about $426,000. Dimensional Fund Advisors LP raised its holdings in shares of Fate Therapeutics by 29.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 414,477 shares of the biopharmaceutical company’s stock valued at $24,254,000 after buying an additional 95,408 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Fate Therapeutics by 31.8% during the 4th quarter. HighTower Advisors LLC now owns 17,345 shares of the biopharmaceutical company’s stock valued at $1,019,000 after buying an additional 4,182 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Fate Therapeutics by 23.4% during the 4th quarter. Teacher Retirement System of Texas now owns 14,696 shares of the biopharmaceutical company’s stock valued at $860,000 after buying an additional 2,783 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fate Therapeutics by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,932,464 shares of the biopharmaceutical company’s stock valued at $113,069,000 after buying an additional 229,849 shares in the last quarter.

About Fate Therapeutics

(Get Rating)

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors.

Further Reading

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.