Fate (FATE)
Develops off-the-shelf iPSC-derived CAR T and CAR NK therapies for autoimmune disease and cancer.
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Develops off-the-shelf CAR T and CAR NK candidates from clonal iPSC master lines for autoimmune disease and cancer. Revenue currently comes from research and development collaborations, including Ono-supported solid-tumor work, rather than approved commercial products.
Develops cell-therapy candidates by engineering human iPSCs, creating clonal master lines, and differentiating them into off-the-shelf CAR T and CAR NK products. The current portfolio includes FT819 for autoimmune disease, FT522 for B-cell-mediated autoimmune diseases, and oncology programs such as FT825 / ONO-8250, FT836, and FT839.
Operations are anchored in San Diego with an integrated GMP manufacturing facility, while FT819 clinical work spans U.S., U.K., and EU treatment sites. The company reports one segment and remains pre-commercial; revenue comes from research and development collaborations, including Ono.
Execution depends on clinical trial progress, regulatory clearance, manufacturing consistency, and collaboration terms. The business is shaped by cell-therapy competition across autoimmune disease and cancer, not by marketed drug sales.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 14, 2026 | Piper Sandler | Reiterate | Rating: —Target: $6 | Target: $8 |
| Aug 14, 2026 | Wells Fargo | Reiterate | Rating: —Target: — | Target: $3.50 |
| Jun 8, 2026 | H.C. Wainwright | Target | Target: $5 | Target: $7 |
| May 19, 2026 | Jefferies | Target | Target: $145 | Target: $4 |
| Oct 31, 2025 | HC Wainwright & Co. | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $153.8M · Total debt $75.7M · Total assets $260.1M · Shareholders' equity $153.4M
- Revenue
- $2.1M
- Operating income
- −$31.1M
- Net income
- −$30.2M
No dividends on record.
| Institutions | ≈ 60.14% | 72.06M shares | |
|---|---|---|---|
| 162 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 5.54% | 6.63M shares | |
| 7 holders · as of Aug 5, 2026 | |||
| Strategic holders | 7.49% | 8.98M shares | |
| 1 holder · as of Jul 3, 2025 | |||
| Other | ≈ 26.83% | 32.15M shares | |
| remainder | |||
119.82M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Redmile Group, LLCInstitution | 10.74% | 12.87M | as of Jun 30, 2026 |
RedCo II Master Fund, L.P.Strategicdirector, 10 percent owner | 7.49% | 8.98M | filed Jul 3, 2025 |
BlackRock, Inc.Institution | 6.09% | 7.30M | as of Jun 30, 2026 |
Steven A. CohenInsider | 4.13% | 4.95M | filed Jan 25, 2024 |
Vanguard Portfolio Management LLCInstitution | 3.79% | 4.55M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Bahram Valamehr | director, officer: President and CEO | −43,947 | $2.46 |
| Aug 4, 2026 | Cindy Tahl | officer: See Remarks | −38,800 | $2.46 |
| May 20, 2026 | Bahram Valamehr | director, officer: President and CEO | −28,946 | $1.88 |
| May 20, 2026 | Cindy Tahl | officer: See Remarks | −25,590 | $1.88 |
| Jan 9, 2026 | Bahram Valamehr | director, officer: President and CEO | −5,190 | $1.07 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Fate | $2.46 | −4.84% | $300.7M | — | — | 46.3 | +9.2% |
| Century Therapeutics | $1.81 | −4.23% | $163.6M | — | — | — | — |
| Allogene Therapeutics | $1.67 | −2.63% | $590.2M | — | — | 127.2 | — |
| CRISPR Therapeutics | $56.50 | −4.29% | $5.69B | — | — | 425.1 | +1,041.4% |
| Adicet Bio | $8.65 | −5.45% | $85.5M | — | — | — | — |
| Nkarta | $2.68 | −9.32% | $211.1M | — | — | — | — |
| Artiva Biotherapeutics | $7.58 | −6.26% | $395.5M | — | — | — | — |
| Caribou Biosciences | $1.32 | −1.49% | $132.9M | — | — | 13.2 | −43.8% |
| Cellectis (ADR) | $1.47 | −5.77% | $156.7M | — | — | 2.8 | −59.2% |
| Median | — | — | 70.2 | −43.8% |