Fate Therapeutics, Inc. (NASDAQ:FATE) Sees Significant Growth in Short Interest

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 16,490,000 shares, a growth of 25.3% from the March 15th total of 13,160,000 shares. Based on an average daily volume of 2,860,000 shares, the short-interest ratio is currently 5.8 days. Currently, 19.0% of the company's stock are sold short.

Hedge Funds Weigh In On Fate Therapeutics

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Fate Therapeutics by 19.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 590,993 shares of the biopharmaceutical company's stock valued at $2,210,000 after buying an additional 96,527 shares during the last quarter. Barclays PLC boosted its holdings in shares of Fate Therapeutics by 202.6% during the fourth quarter. Barclays PLC now owns 359,375 shares of the biopharmaceutical company's stock worth $1,344,000 after acquiring an additional 240,624 shares during the period. Voya Investment Management LLC grew its position in shares of Fate Therapeutics by 14.0% in the fourth quarter. Voya Investment Management LLC now owns 93,313 shares of the biopharmaceutical company's stock valued at $349,000 after purchasing an additional 11,492 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of Fate Therapeutics by 9.6% during the fourth quarter. Nuveen Asset Management LLC now owns 314,571 shares of the biopharmaceutical company's stock worth $1,176,000 after purchasing an additional 27,621 shares during the period. Finally, Brevan Howard Capital Management LP lifted its holdings in Fate Therapeutics by 120.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 38,230 shares of the biopharmaceutical company's stock worth $143,000 after purchasing an additional 20,893 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FATE shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Fate Therapeutics in a research note on Thursday. BMO Capital Markets increased their price objective on Fate Therapeutics from $6.00 to $7.00 and gave the stock a "market perform" rating in a report on Tuesday, February 27th. Bank of America lifted their target price on Fate Therapeutics from $2.00 to $6.00 and gave the company an "underperform" rating in a research report on Thursday, March 28th. Wedbush upped their price target on Fate Therapeutics from $3.00 to $7.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 27th. Finally, Barclays lifted their price objective on shares of Fate Therapeutics from $6.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.73.

Fate Therapeutics Trading Down 2.3 %

Fate Therapeutics stock traded down $0.13 during midday trading on Monday, reaching $5.64. 2,687,398 shares of the company's stock were exchanged, compared to its average volume of 2,795,961. The stock's 50-day simple moving average is $7.00 and its 200 day simple moving average is $4.41. Fate Therapeutics has a 52 week low of $1.63 and a 52 week high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last posted its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.12. Fate Therapeutics had a negative return on equity of 38.17% and a negative net margin of 253.30%. The business had revenue of $1.68 million for the quarter, compared to analyst estimates of $0.85 million. During the same period in the previous year, the firm earned ($0.58) EPS. Analysts expect that Fate Therapeutics will post -1.94 earnings per share for the current year.

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.

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