Fate Therapeutics Inc. (FATE) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of FATE have fallen 3.02% to $4.5 after closing the day prior at $4.64. So far, the stock has traded as high as $4.65 and as low as $4.48. Today’s decline has come with about 45,922 shares changing hands, compared to an average 30-day volume of 494,956 for Fate Therapeutics Inc.. The price is currently below the 30-day volume weighted average price of $4.53 for FATE.
The share depreciation gives the company a market capitalization of $192.03 million based upon 41.39 million shares outstanding. It also means that FATE has a price-to-book ratio of 2.54:1.
In the past 52 weeks, shares of FATE have traded as low as $1.47 and as high as $5.68. Technical traders will take note that at $4.5, shares of FATE are trading above their 200-day MA at $3.01 and above their 50-day MA at $4.23. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is FATE?
Fate Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the development of programmed cellular immunotherapies for cancer and immune disorders. The company’s 66 employees are led by CEO J. Scott Wolchko from the corporate headquarters at 3535 General Atomics Court in San Diego, CA.
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