Redmile Group LLC recently announced the acquisition of new stake in Fate Therapeutics Inc (NASDAQ:FATE). The institutional investor has increased its shareholding in the Healthcare company by 0.43% to 13.18 million shares with purchase of 55961.0 shares. This fresh investment now brings its stake to 13.37% valued currently at $49.29 million. In addition, BlackRock Fund Advisors raised its holdings by 67550.0 to 8.3 million shares. And Point72 Asset Management LP has lifted its position by 1,766.84% or 4.68 million shares – to 4.95 million shares.
Currently, there are 97.29M common shares owned by the public and among those 92.59M shares have been available to trade.
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Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 443,844 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 44,741 shares.
The top 3 mutual fund holders in Fate Therapeutics Inc are BB Biotech AG, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. BB Biotech AG owns 4.84 million shares of the company’s stock, all valued at over $18.1 million. iShares Russell 2000 ETF sold 6138.0 shares to bring its total holdings to over 2.32 million shares at a value of $8.67 million. iShares Russell 2000 ETF now owns shares totaling to 2.35% of the shares outstanding.
However, the script later moved the day high at 5.95, up 25.44%. The company’s stock has a 5-day price change of 21.19% and 226.86% over the past three months. FATE shares are trading 52.94% year to date (YTD), with the 12-month market performance up to 7.92% higher. It has a 12-month low price of $1.63 and touched a high of $7.08 over the same period. FATE has an average intraday trading volume of 2.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 33.54%, 71.72%, and 53.81% respectively.
Institutional ownership of Fate Therapeutics Inc (NASDAQ: FATE) shares accounts for 109.20% of the company’s 97.29M shares outstanding. Mutual fund holders own 34.49%, while other institutional holders and individual stakeholders account for 64.29% and 21.34% respectively.
It has a market capitalization of $563.99M and a beta (3y monthly) value of 1.65. The earnings-per-share (ttm) stands at -$1.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.59% over the week and 11.36% over the month.
Analysts forecast that Fate Therapeutics Inc (FATE) will achieve an EPS of -$0.52 for the current quarter, -$0.52 for the next quarter and -$2.03 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.71 while analysts give the company a high EPS estimate of -$0.32. Comparatively, EPS for the current quarter was -$0.58 a year ago. Earnings per share for the fiscal year are expected to increase by 41.17%, and -16.94% over the next financial year.
Looking at the support for the FATE, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on March 27, 2023, with the firm’s price target at $6.
