Short Interest in Fate Therapeutics, Inc. (NASDAQ:FATE) Increases By 9.2%

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

Fate Therapeutics Price Performance

Shares of NASDAQ FATE traded down $0.12 during trading on Tuesday, hitting $1.88. 2,811,176 shares of the company were exchanged, compared to its average volume of 2,407,703. Fate Therapeutics has a 1 year low of $1.82 and a 1 year high of $8.83. The company has a market cap of $214.12 million, a price-to-earnings ratio of -1.14 and a beta of 1.95. The firm's fifty day moving average price is $2.63 and its 200 day moving average price is $3.38.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.07 million for the quarter, compared to the consensus estimate of $0.88 million. On average, research analysts forecast that Fate Therapeutics will post -1.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FATE. Wedbush restated a "neutral" rating and issued a $5.00 price objective on shares of Fate Therapeutics in a research note on Tuesday, November 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research report on Tuesday, November 19th. HC Wainwright reissued a "neutral" rating and issued a $5.00 target price on shares of Fate Therapeutics in a report on Thursday, August 22nd. Finally, Bank of America raised Fate Therapeutics from an "underperform" rating to a "neutral" rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.75.

Institutional Investors Weigh In On Fate Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position 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 purchasing an additional 5,605 shares during the last quarter. Doheny Asset Management CA acquired a new stake in Fate Therapeutics during the 2nd quarter valued at $263,000. Ausdal Financial Partners Inc. purchased a new position in Fate Therapeutics during the second quarter worth $33,000. Geode Capital Management LLC raised its holdings in shares of Fate Therapeutics by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,258,246 shares of the biopharmaceutical company's stock worth $7,905,000 after acquiring an additional 10,863 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings 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 worth $148,000 after acquiring an additional 12,230 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company's stock.

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.