Sunday, June 26, 2022

Insider Selling: Agarwal Shefali, Fate Therapeutics Inc. [FATE] Director divested 841 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fate Therapeutics Inc. shares valued at $18,409 were sold by Agarwal Shefali on Jun 07. At $21.89 per share, Agarwal Shefali sold 841 shares. The insider’s holdings dropped to 1,840 shares worth approximately $43442.4 following the completion of this transaction.

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Also, MENDLEIN JOHN sold 1,364 shares, netting a total of over 31,086 in proceeds. Following the sale of shares at $22.79 each, the insider now holds 158,091 shares.

Before that, Jooss Karin had sold 1,483 shares from its account. In a trade valued at $33,842, the Director traded Fate Therapeutics Inc. shares for $22.82 each. Upon closing the transaction, the insider’s holdings decreased to 1,483 shares, worth approximately $28284.78.

As published in their initiating research note from Robert W. Baird on June 03, 2022, Fate Therapeutics Inc. [FATE] has been a Neutral and the price target has been revised to $28. This represents a 15.68% premium over Wednesday’s closing price. As of December 15, 2021, Wedbush has increased its “Neutral” rating to a “an Outperform” for FATE. Earlier on December 07, 2021, Cowen initiated its rating. Their recommendation was “an Outperform” for FATE stock.

Analyzing FATE’s Price Performance

On Wednesday, Fate Therapeutics Inc. [NASDAQ: FATE] rose 6.21% to $23.61. The stock’s lowest price that day was $21.37, but it reached a high of $23.95 in the same session. During the last five days, there has been a surge of approximately 26.73%. Over the course of the year, Fate Therapeutics Inc. shares have dropped approximately -59.65%. Shares of the company reached a 52-week high of $60.43 on 01/03/22 and a 52-week low of $17.10 on 06/13/22. A 50-day SMA is recorded $26.31, while a 200-day SMA reached $43.92. Nevertheless, trading volume fell to 1.97 million shares from 2.17 million shares the previous day.

Support And Resistance Levels for Fate Therapeutics Inc. (FATE)

According to the 24-hour chart, there is a support level at 22.00, which, if violated, would cause prices to drop to 20.40. In the upper region, resistance lies at 24.58. The next price resistance is at 25.56. RSI (Relative Strength Index) is 52.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 18.63%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Fate Therapeutics Inc. subject to short interest?

Stocks of Fate Therapeutics Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.13 million shares to 16.55 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 15.42 million shares. A jump of 6.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 14.9 of the overall float, the days-to-cover ratio (short ratio) jumped to 14.9.

Which companies own the most shares of Fate Therapeutics Inc. (FATE)?

According to Redmile Group LLC filings, the company currently owns 12,968,553 shares, which is about 13.42% of the total FATE shares outstanding. The investor’s shares have appreciated by 11,331 from its previous 13-F filing of 12957222.0 shares. With the completion of the buy, ARK Investment Management LLC’s stake is now worth $253,827,004. The Vanguard Group, Inc. acquire a 0.31% interest valued at $172.71 million while BlackRock Fund Advisors purchased a 21,577 stake. A total of 977,429 shares of Fate Therapeutics Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 1,300,640 were bought by Capital Research & Management Co. In its current portfolio, Bellevue Asset Management AG holds 3,576,486 shares valued at $82.62 million.

In terms of Fate Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $81.50 in the next 12 months, up nearly 268.87% from the previous closing price of $22.23. Analysts anticipate Fate Therapeutics Inc. stock to reach $135.00 by 2022, with the lowest price target being $28.00. In spite of this, 21 analysts ranked Fate Therapeutics Inc. stock as a Buy at the end of 2022. On November 09, 2021, Citigroup assigned a price target of “a Buy” to the stock and upgraded coverage with a $87.

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