Fate Therapeutics, Inc. (NASDAQ:FATE) Sees Large Decline in Short Interest

Fate Therapeutics, Inc. (NASDAQ:FATE) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 14,180,000 shares, a drop of 5.7% from the September 15th total of 15,040,000 shares. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is currently 8.8 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FATE shares. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.90.

Fate Therapeutics Trading Up 5.2 %

Shares of FATE opened at $3.21 on Thursday. Fate Therapeutics has a twelve month low of $1.63 and a twelve month high of $8.83. The stock’s 50 day moving average is $3.51 and its two-hundred day moving average is $4.03. The firm has a market capitalization of $365.40 million, a PE ratio of -1.67 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.14. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $1.47 million. On average, sell-side analysts predict that Fate Therapeutics will post -1.73 EPS for the current year.

Institutional Investors Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of FATE. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $33,000. Dark Forest Capital Management LP acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $63,000. DRW Securities LLC acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $71,000. Arizona State Retirement System acquired a new stake in shares of Fate Therapeutics during the 2nd quarter valued at approximately $84,000. Finally, Headlands Technologies LLC lifted its position in shares of Fate Therapeutics by 5,258.6% during the 2nd quarter. Headlands Technologies LLC now owns 28,508 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 27,976 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.