Short Interest in Fate Therapeutics, Inc. (NASDAQ:FATE) Drops By 34.7%

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 10,390,000 shares, a drop 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 days-to-cover ratio is currently 5.4 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in Fate Therapeutics by 245.3% in the third quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock valued at $1,485,000 after acquiring an additional 301,389 shares during the period. Geode Capital Management LLC increased its position in shares of Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock valued at $7,905,000 after buying an additional 10,863 shares in the last quarter. Walleye Capital LLC increased its position in shares of Fate Therapeutics by 263.5% in the third quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 49,009 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Fate Therapeutics by 1,307.6% in the third quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock valued at $610,000 after buying an additional 161,776 shares in the last quarter. Finally, FMR LLC increased its position in shares of Fate Therapeutics by 25.9% in the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock valued at $798,000 after buying an additional 46,892 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FATE has been the subject of a number of analyst reports. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. Wedbush restated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Tuesday, November 19th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.75.

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock remained flat at $3.17 on Friday. The company had a trading volume of 2,469,488 shares, compared to its average volume of 3,882,583. Fate Therapeutics has a 12-month low of $1.96 and a 12-month high of $8.83. The company has a market capitalization of $361.03 million, a price-to-earnings ratio of -1.92 and a beta of 1.88. The company has a fifty day simple moving average of $2.85 and a 200 day simple moving average of $3.48.

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 analysts’ consensus estimates of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. On average, research analysts predict that Fate Therapeutics will post -1.72 earnings per share for the current fiscal year.

Fate Therapeutics Company Profile

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.