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

by · The Markets Daily

Fate Therapeutics, Inc. (NASDAQ:FATE – Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 16,060,000 shares, a growth of 13.3% from the September 30th total of 14,180,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is presently 12.2 days.

Hedge Funds Weigh In On Fate Therapeutics

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Fate Therapeutics by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 9,911,007 shares of the biopharmaceutical company’s stock valued at $72,747,000 after purchasing an additional 617,644 shares in the last quarter. Deerfield Management Company L.P. Series C grew its stake in Fate Therapeutics by 62.3% in 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 during the last quarter. Assenagon Asset Management S.A. grew its stake in Fate Therapeutics by 1.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,574,703 shares of the biopharmaceutical company’s stock valued at $8,445,000 after acquiring an additional 26,399 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Fate Therapeutics by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,130,280 shares of the biopharmaceutical company’s stock valued at $6,987,000 after acquiring an additional 1,067,101 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Fate Therapeutics by 17.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,008,862 shares of the biopharmaceutical company’s stock valued at $6,587,000 after acquiring an additional 294,738 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

FATE has been the subject of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Fate Therapeutics in a report on Wednesday, August 14th. HC Wainwright reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fate Therapeutics has an average rating of “Hold” and a consensus target price of $6.90.

Check Out Our Latest Analysis on Fate Therapeutics

Fate Therapeutics Stock Performance

Fate Therapeutics stock traded down $0.12 during trading hours on Thursday, reaching $2.37. 1,823,743 shares of the stock were exchanged, compared to its average volume of 2,199,991. The stock has a market cap of $269.78 million, a P/E ratio of -1.22 and a beta of 1.83. Fate Therapeutics has a 52-week low of $1.68 and a 52-week high of $8.83. The firm’s 50 day moving average is $3.40 and its 200 day moving average is $3.77.

Fate Therapeutics (NASDAQ:FATE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.14. The company had revenue of $6.77 million during the quarter, compared to the consensus estimate of $1.47 million. Fate Therapeutics had a negative net margin of 1,426.67% and a negative return on equity of 44.09%. Equities research analysts expect that Fate Therapeutics will post -1.73 EPS for the current fiscal year.

About Fate Therapeutics

(Get Free Report)

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.

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