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

Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 14,180,000 shares, a drop of 5.7% from the September 15th total of 15,040,000 shares. Based on an average trading volume of 1,620,000 shares, the days-to-cover ratio is currently 8.8 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FATE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. HC Wainwright restated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and a consensus target price of $6.90.

Fate Therapeutics Price Performance

Fate Therapeutics stock traded up $0.04 during trading hours on Wednesday, reaching $3.09. The stock had a trading volume of 171,431 shares, compared to its average volume of 2,242,755. The company has a fifty day simple moving average of $3.52 and a 200-day simple moving average of $4.03. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83. The stock has a market cap of $351.74 million, a PE ratio of -1.59 and a beta of 1.83.

Fate Therapeutics (NASDAQ:FATE) last posted its earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.14. The company had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $1.47 million. Fate Therapeutics had a negative return on equity of 44.09% and a negative net margin of 1,426.67%. Research analysts predict that Fate Therapeutics will post -1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fate Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in Fate Therapeutics during the 1st quarter valued at $1,109,000. Price T Rowe Associates Inc. MD increased its position in shares of Fate Therapeutics by 404.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 274,289 shares of the biopharmaceutical company’s stock valued at $2,014,000 after buying an additional 219,932 shares during the period. Perceptive Advisors LLC bought a new position in Fate Therapeutics in the second quarter worth about $1,133,000. Vanguard Group Inc. lifted its holdings in Fate Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock worth $72,747,000 after buying an additional 617,644 shares during the period. Finally, Deerfield Management Company L.P. Series C boosted its position in Fate Therapeutics by 62.3% during the 2nd 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 acquiring an additional 1,365,463 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

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.