Fate Therapeutics, Inc. (NASDAQ:FATE) CEO Sells $7,122,022.00 in Stock

Fate Therapeutics, Inc. (NASDAQ:FATE) CEO J Scott Wolchko sold 60,820 shares of the stock in a transaction on Friday, January 8th. The shares were sold at an average price of $117.10, for a total transaction of $7,122,022.00. Following the completion of the sale, the chief executive officer now directly owns 393,065 shares of the company’s stock, valued at $46,027,911.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

J Scott Wolchko also recently made the following trade(s):

  • On Monday, January 11th, J Scott Wolchko sold 69,407 shares of Fate Therapeutics stock. The shares were sold at an average price of $116.33, for a total transaction of $8,074,116.31.
  • On Friday, November 13th, J Scott Wolchko sold 60,000 shares of Fate Therapeutics stock. The shares were sold at an average price of $51.87, for a total transaction of $3,112,200.00.

FATE opened at $113.29 on Thursday. The stock has a market capitalization of $9.88 billion, a PE ratio of -61.57 and a beta of 1.84. Fate Therapeutics, Inc. has a 1-year low of $16.75 and a 1-year high of $118.79. The firm has a 50-day moving average price of $88.49 and a two-hundred day moving average price of $51.78.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.39). The company had revenue of $7.56 million during the quarter, compared to analyst estimates of $7.49 million. Fate Therapeutics had a negative net margin of 810.13% and a negative return on equity of 35.51%. The company’s revenue was up 211.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.40) EPS. On average, sell-side analysts expect that Fate Therapeutics, Inc. will post -1.53 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Epiq Partners LLC increased its position in Fate Therapeutics by 13.6% in the 4th quarter. Epiq Partners LLC now owns 43,468 shares of the biopharmaceutical company’s stock valued at $3,953,000 after acquiring an additional 5,205 shares in the last quarter. Strs Ohio increased its position in Fate Therapeutics by 92.6% in the 3rd quarter. Strs Ohio now owns 5,200 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,500 shares in the last quarter. Sei Investments Co. increased its position in Fate Therapeutics by 28.0% in the 3rd quarter. Sei Investments Co. now owns 20,645 shares of the biopharmaceutical company’s stock valued at $823,000 after acquiring an additional 4,522 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Fate Therapeutics in the 3rd quarter valued at about $364,000. Finally, IHT Wealth Management LLC acquired a new stake in Fate Therapeutics in the 3rd quarter valued at about $221,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.

A number of brokerages have weighed in on FATE. Smith Barney Citigroup increased their price target on shares of Fate Therapeutics from $63.00 to $76.00 in a report on Monday, December 7th. ValuEngine downgraded shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Truist raised their price objective on shares of Fate Therapeutics from $40.00 to $65.00 in a report on Tuesday, November 24th. BidaskClub raised shares of Fate Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Finally, Oppenheimer raised their price objective on shares of Fate Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, December 7th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.68.

About Fate Therapeutics

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 includes FT516 for the treatment of acute myeloid leukemia (AML) and B-cell lymphoma, FT596 to treat B-cell lymphoma and CLL, FT538 to treat AML and multiple myeloma, FT576 to treat multiple myeloma, FT819 to treat B-cell malignancies, and FT-ONO1 to treat hematologic malignancies; and FT500, FT516, and FT-ONO2 for the treatment of advanced solid tumors.

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