Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Update

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 11,350,000 shares, a growth of 9.2% from the November 15th total of 10,390,000 shares. Based on an average daily volume of 2,250,000 shares, the days-to-cover ratio is currently 5.0 days.

Institutional Investors Weigh In On Fate Therapeutics

Several hedge funds have recently made changes to their positions in FATE. Perceptive Advisors LLC acquired a new position in shares of Fate Therapeutics during the 2nd quarter valued at about $1,133,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of Fate Therapeutics by 62.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares during the last quarter. Integral Health Asset Management LLC grew its stake in shares of Fate Therapeutics by 325.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock valued at $2,788,000 after buying an additional 650,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter worth $1,799,000. Finally, E Fund Management Co. Ltd. raised its position in shares of Fate Therapeutics by 930.2% in the 2nd quarter. E Fund Management Co. Ltd. now owns 355,225 shares of the biopharmaceutical company’s stock worth $1,165,000 after buying an additional 320,745 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Price Performance

Shares of FATE traded down $0.08 during mid-day trading on Tuesday, reaching $1.92. 256,703 shares of the company’s stock were exchanged, compared to its average volume of 2,396,867. Fate Therapeutics has a 52-week low of $1.82 and a 52-week high of $8.83. The stock has a market capitalization of $218.68 million, a PE ratio of -1.21 and a beta of 1.95. The business’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $3.38.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.02. The firm had revenue of $3.07 million during the quarter, compared to analysts’ expectations of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Equities research analysts predict that Fate Therapeutics will post -1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FATE shares. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Finally, Bank of America raised Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fate Therapeutics has an average rating of “Hold” and a consensus target price of $6.75.

About Fate Therapeutics

Fate Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. The company's chimeric antigen receptor (CAR)-targeted NK and T-cell product candidates include FT576 to treat multiple myeloma, and FT522, to treat lymphoma and autoimmune disorders.