Fate Therapeutics, Inc. (NASDAQ:FATE) CEO J Scott Wolchko Sells 60,820 Shares

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

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 stock was 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 stock was sold at an average price of $51.87, for a total transaction of $3,112,200.00.

FATE stock opened at $113.29 on Thursday. Fate Therapeutics, Inc. has a 12 month low of $16.75 and a 12 month high of $118.79. The firm has a market cap of $9.88 billion, a PE ratio of -61.57 and a beta of 1.84. The firm has a 50 day simple moving average of $88.49 and a 200 day simple moving average of $51.78.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.39). The business had revenue of $7.56 million for 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 firm’s revenue for the quarter was up 211.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) earnings per share. Equities analysts forecast that Fate Therapeutics, Inc. will post -1.53 earnings per share for the current year.

FATE has been the subject of several recent analyst reports. ValuEngine cut shares of Fate Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Truist increased their price objective on shares of Fate Therapeutics from $40.00 to $65.00 in a report on Tuesday, November 24th. Piper Sandler increased their price objective on shares of Fate Therapeutics from $71.00 to $99.00 and gave the company an “overweight” rating in a report on Monday, December 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of Fate Therapeutics from $63.00 to $76.00 in a report on Monday, December 7th. Finally, Barclays increased their price objective on shares of Fate Therapeutics from $80.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, December 17th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.68.

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Fate Therapeutics by 9.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 40,923 shares of the biopharmaceutical company’s stock valued at $1,636,000 after acquiring an additional 3,404 shares in the last quarter. Strs Ohio lifted its position in shares of 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. Charles Schwab Investment Management Inc. lifted its position in shares of Fate Therapeutics by 15.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 444,272 shares of the biopharmaceutical company’s stock valued at $15,243,000 after acquiring an additional 58,866 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Fate Therapeutics by 36.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 530,980 shares of the biopharmaceutical company’s stock valued at $18,218,000 after acquiring an additional 142,207 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Fate Therapeutics in the 2nd quarter valued at approximately $354,000. Institutional investors and hedge funds own 97.45% of the company’s stock.

Fate Therapeutics Company Profile

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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