Fate Therapeutics, Inc. (NASDAQ:FATE) Sees Significant Growth in Short Interest

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

Fate Therapeutics Price Performance

Shares of Fate Therapeutics stock opened at $2.00 on Tuesday. The business has a 50-day moving average of $2.63 and a two-hundred day moving average of $3.38. The company has a market capitalization of $227.79 million, a P/E ratio of -1.21 and a beta of 1.95. Fate Therapeutics has a 1 year low of $1.82 and a 1 year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. On average, equities analysts anticipate that Fate Therapeutics will post -1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Fate Therapeutics

Hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Fate Therapeutics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after acquiring an additional 5,605 shares during the last quarter. Doheny Asset Management CA acquired a new position in Fate Therapeutics in the 2nd quarter valued at $263,000. Ausdal Financial Partners Inc. bought a new position in Fate Therapeutics during the 2nd quarter worth $33,000. Geode Capital Management LLC increased its position in Fate Therapeutics by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company’s stock worth $7,905,000 after buying an additional 10,863 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Fate Therapeutics by 40.7% during the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 12,230 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.