Fate Therapeutics (NASDAQ:FATE) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Fate Therapeutics, Inc. (NASDAQ:FATE)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.20 and traded as high as $3.08. Fate Therapeutics shares last traded at $2.93, with a volume of 1,907,979 shares traded.

Analysts Set New Price Targets

FATE has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Fate Therapeutics in a report on Monday, June 8th. Weiss Ratings raised shares of Fate Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group set a $4.00 price objective on shares of Fate Therapeutics in a report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fate Therapeutics has a consensus rating of “Hold” and an average target price of $5.12.

Fate Therapeutics Stock Performance

The company has a market cap of $341.52 million, a price-to-earnings ratio of -2.69 and a beta of 2.51. The stock’s fifty day moving average is $2.20 and its two-hundred day moving average is $1.56.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.49 million. Fate Therapeutics had a negative return on equity of 58.89% and a negative net margin of 2,056.79%. On average, equities research analysts expect that Fate Therapeutics, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other Fate Therapeutics news, insider Cindy Tahl sold 25,590 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.88, for a total transaction of $48,109.20. Following the transaction, the insider directly owned 628,155 shares in the company, valued at approximately $1,180,931.40. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 4.74% of the company’s stock.

Institutional Trading of Fate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in Fate Therapeutics by 87.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,360,881 shares of the biopharmaceutical company’s stock worth $2,320,000 after purchasing an additional 1,098,366 shares during the last quarter. Irenic Capital Management LP purchased a new stake in Fate Therapeutics in the 1st quarter valued at about $1,054,000. Two Sigma Investments LP increased its stake in Fate Therapeutics by 294.4% in the 3rd quarter. Two Sigma Investments LP now owns 900,757 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 672,352 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Fate Therapeutics by 296.4% during the 1st quarter. AQR Capital Management LLC now owns 585,025 shares of the biopharmaceutical company’s stock worth $462,000 after buying an additional 437,423 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Fate Therapeutics by 631.4% in the 2nd quarter. Jane Street Group LLC now owns 465,820 shares of the biopharmaceutical company’s stock worth $522,000 after buying an additional 402,129 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.