Redmile Group LLC has recently announced that it has increased stake in Fate Therapeutics Inc (NASDAQ:FATE) by 0.43%. After grabbing 13.18 million shares, the institutional investor is now in possession of 55961.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 13.37% having worth around $32.82 million. Moreover, BlackRock Fund Advisors increased its share by 67550.0 to have a control over 8.3 million shares. And D. E. Shaw & Co. LP raised its holdings to 1.75 million shares by acquiring 4.71 million shares or 4.78% of the stake.
Fate Therapeutics Inc (FATE) concluded trading on 01/10/24 at a closing price of $4.57, with 3.22 million shares of worth about $14.72 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -7.49% during that period and on Wednesday the price saw a gain of about 3.63%. Currently the company’s common shares owned by public are about 97.29M shares, out of which, 92.77M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the FATE stock and their offered price forecasts bring an average price target of $6.32. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $2.00. The stock’s current price level is 27.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -128.5% for the stock. However, touching the estimated high of $13.00 would mean a gain of 64.85% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 15 times over the past 12 months. They bought 597,407 shares in 7 of the transactions. In 8 selling transactions, insiders dumped 44,741 shares.
BB Biotech AG, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Fate Therapeutics Inc BB Biotech AG is currently holding 4.84 million shares of worth totaling $12.05 million. The company recently came buying 0.0 shares which brought its stake up to 4.91% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 2.08 million shares, have now control over 2.11% of the stake in the company. It holds 1023.0 shares of worth $5.18 million.
Fate Therapeutics Inc (NASDAQ: FATE) started trading at $4.42, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 4.6275, or with a gain of 3.63%. Stock saw a price change of 29.10% in past 5 days and over the past one month there was a price change of 104.02%. Year-to-date (YTD), FATE shares are showing a performance of 22.19% which decreased to -13.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.63 but also hit the highest price of $7.08 during that period. The average intraday trading volume for Fate Therapeutics Inc shares is 1.84 million. The stock is currently trading 34.29% above its 20-day simple moving average (SMA20), while that difference is up 66.81% for SMA50 and it goes to 20.95% higher than SMA200.
Redmile Group LLC acquired 13.18 million shares of Fate Therapeutics Inc having value of about $32.82 million. Data submitted at the U.S SEC by Redmile Group LLC revealed that the firm now holds 55961.0 shares in the company valued at close to $255741.77, or have control over 0.43% stake in the company. Fate Therapeutics Inc (NASDAQ: FATE) currently have 97.29M outstanding shares and institutions hold larger chunk of about 105.06% of that. Holding of mutual funds in the company is about 37.65% while other institutional holders and individual stake holders have control over 57.00% and 21.38% of the stake respectively.
The stock has a current market capitalization of $450.60M and its 3Y-monthly beta is at 1.61. It has posted earnings per share of -$1.77 in the same period. It has Quick Ratio of 8.81 while making debt-to-equity ratio of 0.26. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FATE, volatility over the week remained 12.89% while standing at 11.43% over the month.
Analysts are in expectations that Fate Therapeutics Inc (FATE) stock would likely to be making an EPS of -$0.52 in the current quarter, while forecast for next quarter EPS is -$0.53 and it is -$2.03 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.71 which is -$0.32 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 40.98% while it is estimated to decrease by -16.83% in next year.
Analysts at 19 brokerage firms have issued recommendations for the Fate Therapeutics Inc (FATE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.58. Out of those 19 Wall Street analysts, 4 recommended a “Buy” rating, while 13 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on March 27, 2023 offering an Equal weight rating for the stock and assigned a target price of $6 to it.
