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

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 10,390,000 shares, a decrease of 34.7% from the October 31st total of 15,900,000 shares. Based on an average daily trading volume, of 1,930,000 shares, the short-interest ratio is presently 5.4 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Doheny Asset Management CA purchased a new stake in Fate Therapeutics in the second quarter valued at approximately $263,000. Ausdal Financial Partners Inc. bought a new position in shares of Fate Therapeutics in the second quarter worth approximately $33,000. Dark Forest Capital Management LP bought a new stake in Fate Therapeutics in the second quarter valued at $63,000. Castleview Partners LLC bought a new stake in shares of Fate Therapeutics during the 3rd quarter valued at $73,000. Finally, DRW Securities LLC bought a new stake in shares of Fate Therapeutics during the 2nd quarter valued at $71,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of FATE remained flat at $3.17 during trading hours on Friday. 2,469,488 shares of the stock were exchanged, compared to its average volume of 3,882,583. The firm has a fifty day moving average of $2.85 and a two-hundred day moving average of $3.48. The firm has a market cap of $361.03 million, a PE ratio of -1.92 and a beta of 1.88. Fate Therapeutics has a 1-year low of $1.96 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative net margin of 1,325.43% and a negative return on equity of 45.88%. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Sell-side analysts predict that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

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.