Fate Therapeutics, Inc. (NASDAQ:FATE) Sees Large Decline in Short Interest

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FATE. Massachusetts Financial Services Co. MA raised its stake in shares of Fate Therapeutics by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 5,605 shares in the last quarter. Doheny Asset Management CA acquired a new stake in shares of Fate Therapeutics in the second quarter valued at $263,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Fate Therapeutics in the second quarter valued at $33,000. Exchange Traded Concepts LLC raised its stake in shares of Fate Therapeutics by 40.7% in the third quarter. Exchange Traded Concepts LLC now owns 42,289 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 12,230 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Fate Therapeutics by 11.0% in the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after acquiring an additional 15,825 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

Fate Therapeutics Stock Performance

FATE opened at $3.21 on Thursday. Fate Therapeutics has a one year low of $1.63 and a one year high of $8.83. The stock has a market capitalization of $365.40 million, a PE ratio of -1.67 and a beta of 1.83. The business’s 50 day moving average price is $3.51 and its 200 day moving average price is $4.03.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FATE shares. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research note on Wednesday, August 14th. HC Wainwright reiterated a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the 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 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.