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 $49.29 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 Wednesday at a closing price of $4.61, with 3.12 million shares of worth about $14.39 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.71% during that period and On Wednesday, January 24 the price saw a loss of about -4.55%. Currently the company’s common shares owned by public are about 97.29M shares, out of which, 92.59M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 11 times over the past 12 months. They bought 443,844 shares in 3 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 $18.1 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 selling 2.32 million shares, have now control over 2.35% of the stake in the company. It holds 6138.0 shares of worth $8.67 million.
However, the stock later moved at a day high price of 4.9800, or with a loss of -4.55%. Stock saw a price change of 4.77% in past 5 days and over the past one month there was a price change of 37.61%. Year-to-date (YTD), FATE shares are showing a performance of 23.26% which decreased to -16.94% 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 2.03 million. The stock is currently trading 11.43% above its 20-day simple moving average (SMA20), while that difference is up 44.97% for SMA50 and it goes to 23.42% higher than SMA200.
Redmile Group LLC acquired 13.18 million shares of Fate Therapeutics Inc having value of about $49.29 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 $257980.21, 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 104.46% of that. Holding of mutual funds in the company is about 34.51% while other institutional holders and individual stake holders have control over 59.97% and 21.34% of the stake respectively.
The stock has a current market capitalization of $454.55M and its 3Y-monthly beta is at 1.65. 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 9.08% while standing at 10.51% 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 -$0.52 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 41.17% while it is estimated to decrease by -16.94% in next year.
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.
