Redmile Group added 56,331 net shares of FATE at $1.68, a modest increase in an unprofitable biotech down 80.6% from 52-week high.
Redmile Group executed 2 offsetting transactions on 2024-12-20, purchasing 397,964 shares for $668,579.52 while simultaneously selling 341,633 shares for $573,943.44, resulting in a net addition of 56,331 shares (0.4% increase to holdings of 12.88M shares). The $1.68 transaction price occurred as FATE traded well below its 52-week range ($1.62–$8.35), having declined 80.6% from peak and 39.6% in the prior 30 days. This is a biotech company with negative fundamentals: $3.1M quarterly revenue, -$47.7M net income, -34.0% annual revenue growth, and unprofitability on a full-year basis. Redmile's prior 3 buys at FATE were poorly timed on aggregate, with only 1 of 3 showing positive 90-day returns, and this modest net purchase size suggests marginal conviction rather than a strategic accumulation move given the company's deteriorating financial trajectory and depressed share price.