Fate Therapeutics Inc. [FATE] Chief Financial Officer makes an insider purchase of 5,135 shares worth 0.15 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fate Therapeutics Inc. shares valued at $153,051 were sold by Dulac Edward J III on Aug 18. At $29.81 per share, Dulac Edward J III sold 5,135 shares. The insider’s holdings dropped to 136,801 shares worth approximately $3.07 million following the completion of this transaction.


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Also, Wolchko J Scott sold 6,246 shares, netting a total of over 200,356 in proceeds. Following the sale of shares at $32.08 each, the insider now holds 431,546 shares.

Before that, Wolchko J Scott had sold 30,000 shares from its account. In a trade valued at $986,361, the President and CEO traded Fate Therapeutics Inc. shares for $32.88 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $9.7 million.

Analysts at Needham started covering the stock with ‘”a Hold”‘ outlook in a report released in late July. As of July 11, 2022, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for FATE. Earlier on June 03, 2022, Robert W. Baird initiated its rating. Their recommendation was “a Neutral” for FATE stock.

Analyzing FATE’s Price Performance

On Thursday, Fate Therapeutics Inc. [NASDAQ: FATE] plunged -4.26% to $22.47. The stock’s lowest price that day was $21.89, but it reached a high of $23.07 in the same session. During the last five days, there has been a drop of approximately -16.93%. Over the course of the year, Fate Therapeutics Inc. shares have dropped approximately -61.60%. 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 $29.66, while a 200-day SMA reached $34.26. Nevertheless, trading volume fell to 1.25 million shares from 0.99 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 21.88, which, if violated, would cause prices to drop to 21.30. In the upper region, resistance lies at 23.06. The next price resistance is at 23.66. RSI (Relative Strength Index) is 34.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.61, which suggests the price will decrease in the coming days. Percent R is at 92.30%, indicating bearish price movement. Stochastics %K at buying 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 Jul 14, 2022 jumping by 0.62 million shares to 21.22 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 20.6 million shares. A jump of 2.92% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.95 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.95.

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

According to Redmile Group LLC filings, the company currently owns 12,957,222 shares, which is about 13.36% of the total FATE shares outstanding. With the completion of the buy transaction, ARK Investment Management LLC’s stake is now worth $299,921,342. Capital Research & Management Co acquire a 80.55% interest valued at $215.19 million while The Vanguard Group, Inc. purchased a 72,286 stake. A total of 209,567 shares of Fate Therapeutics Inc. were bought by BlackRock Fund Advisors during the quarter, and 1,797,703 were bought by SSgA Funds Management, Inc.. In its current portfolio, T. Rowe Price Associates, Inc. holds 4,983,503 shares valued at $130.27 million.

In spite of this, 19 analysts ranked Fate Therapeutics Inc. stock as a Buy at the end of 2022. On February 11, 2022, BMO Capital Markets assigned a price target of “a Market perform” to the stock and resumed coverage with a $50.

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