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

Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of a large decrease in short interest in 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 volume of 1,930,000 shares, the short-interest ratio is currently 5.4 days.

Analyst Ratings Changes

A number of analysts have recently commented on FATE shares. Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. Finally, Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, November 18th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.75.

Institutional Trading of Fate Therapeutics

A number of hedge funds have recently made changes to their positions in FATE. Barclays PLC increased its holdings in shares of Fate Therapeutics by 245.3% during the 3rd quarter. Barclays PLC now owns 424,277 shares of the biopharmaceutical company’s stock worth $1,485,000 after acquiring an additional 301,389 shares during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 10,863 shares during the period. Walleye Capital LLC lifted its stake in shares of Fate Therapeutics by 263.5% during the 3rd quarter. Walleye Capital LLC now owns 67,609 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 49,009 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Fate Therapeutics by 1,307.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 174,148 shares of the biopharmaceutical company’s stock worth $610,000 after buying an additional 161,776 shares during the period. Finally, FMR LLC lifted its position in Fate Therapeutics by 25.9% during the third quarter. FMR LLC now owns 227,981 shares of the biopharmaceutical company’s stock worth $798,000 after acquiring an additional 46,892 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

Fate Therapeutics Trading Up 18.3 %

NASDAQ FATE opened at $3.17 on Friday. The firm has a market capitalization of $361.03 million, a P/E ratio of -1.92 and a beta of 1.88. The firm’s fifty day moving average price is $2.88 and its two-hundred day moving average price is $3.50. Fate Therapeutics has a 1 year low of $1.96 and a 1 year high of $8.83.

Fate Therapeutics (NASDAQ:FATE) last issued its 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 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 analysts’ expectations of $0.88 million. On average, research analysts anticipate 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.