Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Up 7.4% in May

Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 22,340,000 shares, an increase of 7.4% from the May 15th total of 20,810,000 shares. Based on an average daily volume of 2,530,000 shares, the short-interest ratio is presently 8.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FATE. Wedbush reissued a “neutral” rating and issued a $7.00 price objective on shares of Fate Therapeutics in a research report on Monday, May 6th. Bank of America increased their price objective on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. Needham & Company LLC reissued a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. StockNews.com downgraded shares of Fate Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Finally, HC Wainwright dropped their price objective on shares of Fate Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.75.

Read Our Latest Analysis on Fate Therapeutics

Institutional Trading of Fate Therapeutics

A number of large investors have recently bought and sold shares of FATE. Vanguard Personalized Indexing Management LLC acquired a new stake in Fate Therapeutics during the 3rd quarter worth $30,000. Epiq Partners LLC acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth $38,000. RPO LLC acquired a new stake in shares of Fate Therapeutics in the 4th quarter worth $46,000. Victory Capital Management Inc. lifted its stake in shares of Fate Therapeutics by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,504 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 2,322 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Fate Therapeutics by 1,069.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,840 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 15,400 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Down 4.5 %

NASDAQ:FATE traded down $0.16 during trading hours on Wednesday, reaching $3.41. 3,018,303 shares of the company’s stock were exchanged, compared to its average volume of 1,932,611. The firm has a market capitalization of $388.16 million, a price-to-earnings ratio of -1.78 and a beta of 1.90. The company has a 50-day moving average of $4.13 and a 200 day moving average of $5.04. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.47). The firm had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.80 million. Fate Therapeutics had a negative net margin of 2,933.79% and a negative return on equity of 46.49%. During the same quarter in the prior year, the business earned ($0.19) EPS. Research analysts forecast that Fate Therapeutics will post -1.9 EPS for the current fiscal year.

Fate Therapeutics Company Profile

(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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