Insider Buying: Fate Therapeutics Inc. (FATE) Director Purchases $999,997.74 in Stock
Fate Therapeutics Inc. (NASDAQ:FATE) Director William H. Rastetter purchased 375,939 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was bought at an average cost of $2.66 per share, with a total value of $999,997.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Fate Therapeutics Inc. (NASDAQ:FATE) opened at 2.94 on Thursday. Fate Therapeutics Inc. has a 52-week low of $1.46 and a 52-week high of $4.67. The company’s market cap is $100.40 million. The firm has a 50-day moving average price of $2.51 and a 200-day moving average price of $2.28.
Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. Fate Therapeutics had a negative net margin of 740.69% and a negative return on equity of 112.48%. On average, analysts forecast that Fate Therapeutics Inc. will post ($1.14) EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This article was first published by Daily Political and is owned by of Daily Political. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this article can be viewed at http://www.dailypolitical.com/2016/12/01/insider-buying-fate-therapeutics-inc-fate-director-purchases-999997-74-in-stock.html.
Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Fate Therapeutics by 51.3% in the third quarter. Northern Trust Corp now owns 38,625 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 13,094 shares during the last quarter. Redmile Group LLC increased its stake in Fate Therapeutics by 1.0% in the second quarter. Redmile Group LLC now owns 1,502,180 shares of the biopharmaceutical company’s stock worth $2,554,000 after buying an additional 15,200 shares during the last quarter. Lombard Odier Asset Management USA Corp increased its stake in Fate Therapeutics by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 256,426 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 7,052 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University acquired a new stake in Fate Therapeutics during the second quarter worth approximately $495,000. Finally, BlackRock Fund Advisors increased its stake in Fate Therapeutics by 26.2% in the second quarter. BlackRock Fund Advisors now owns 75,572 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 15,701 shares during the last quarter. Institutional investors and hedge funds own 57.07% of the company’s stock.
A number of research analysts recently commented on the company. Wedbush dropped their price target on Fate Therapeutics from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, November 8th. BMO Capital Markets set a $4.00 price target on Fate Therapeutics and gave the company a “buy” rating in a research note on Monday, August 8th. Zacks Investment Research cut Fate Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. HC Wainwright reiterated a “buy” rating on shares of Fate Therapeutics in a research report on Tuesday, August 9th. Finally, Roth Capital began coverage on Fate Therapeutics in a research report on Thursday, September 22nd. They issued a “buy” rating and a $8.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $5.79.
Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
Receive News & Ratings for Fate Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fate Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.