Short Interest in Fate Therapeutics, Inc. (NASDAQ:FATE) Drops By 5.3%

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 21,150,000 shares, a decline of 5.3% from the May 31st total of 22,340,000 shares. Based on an average daily trading volume, of 2,430,000 shares, the short-interest ratio is currently 8.7 days.

Hedge Funds Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FATE. Epiq Partners LLC purchased a new position in shares of Fate Therapeutics during the 4th quarter valued at $38,000. RPO LLC purchased a new position in shares of Fate Therapeutics during the 4th quarter valued at $46,000. Victory Capital Management Inc. grew its holdings in shares of Fate Therapeutics by 22.8% during the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 2,322 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Fate Therapeutics by 1,069.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 15,400 shares in the last quarter. Finally, Laurion Capital Management LP boosted its holdings in Fate Therapeutics by 128.6% in the third quarter. Laurion Capital Management LP now owns 35,173 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 19,787 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FATE. StockNews.com downgraded Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Bank of America boosted their price objective on Fate Therapeutics from $2.00 to $6.00 and gave the stock an “underperform” rating in a research report on Thursday, March 28th. Wedbush reissued a “neutral” rating and set a $7.00 target price on shares of Fate Therapeutics in a report on Monday, May 6th. HC Wainwright dropped their target price on Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Finally, BMO Capital Markets dropped their target price on Fate Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fate Therapeutics presently has an average rating of “Hold” and an average target price of $6.75.

Fate Therapeutics Stock Down 1.2 %

NASDAQ FATE opened at $3.22 on Wednesday. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The business’s fifty day moving average is $3.75 and its two-hundred day moving average is $5.10.

Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting the consensus estimate of ($0.47). Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. The firm had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $0.80 million. During the same period in the previous year, the company posted ($0.19) EPS. On average, equities analysts anticipate that Fate Therapeutics will post -1.9 earnings per share 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.