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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new stake in shares of Fate Therapeutics in the second quarter valued at $1,133,000. Deerfield Management Company L.P. Series C lifted its holdings in Fate Therapeutics by 62.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,555,871 shares of the biopharmaceutical company’s stock valued at $11,663,000 after purchasing an additional 1,365,463 shares during the last quarter. Integral Health Asset Management LLC boosted its position in Fate Therapeutics by 325.0% during the second quarter. Integral Health Asset Management LLC now owns 850,000 shares of the biopharmaceutical company’s stock worth $2,788,000 after purchasing an additional 650,000 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Fate Therapeutics in the second quarter worth about $1,799,000. Finally, E Fund Management Co. Ltd. raised its position in shares of Fate Therapeutics by 930.2% in the second quarter. E Fund Management Co. Ltd. now owns 355,225 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 320,745 shares during the period. 97.54% of the stock is owned by institutional investors.

Fate Therapeutics Stock Up 9.3 %

NASDAQ FATE opened at $2.00 on Tuesday. Fate Therapeutics has a 52 week low of $1.82 and a 52 week high of $8.83. The business has a 50 day moving average price of $2.63 and a 200-day moving average price of $3.38. The company has a market cap of $227.79 million, a price-to-earnings ratio of -1.21 and a beta of 1.95.

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

Analyst Upgrades and Downgrades

Several analysts recently 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. Bank of America upgraded shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Tuesday, November 12th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.75.

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.