Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 18,920,000 shares, a growth of 14.7% from the March 31st total of 16,490,000 shares. Based on an average daily volume of 2,780,000 shares, the short-interest ratio is presently 6.8 days.
Institutional Trading of Fate Therapeutics
A number of hedge funds have recently added to or reduced their stakes in FATE. National Bank of Canada FI purchased a new position in Fate Therapeutics during the third quarter worth approximately $25,000. SG Americas Securities LLC purchased a new stake in Fate Therapeutics during the third quarter valued at about $156,000. Exchange Traded Concepts LLC increased its stake in Fate Therapeutics by 85.7% during the third quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company's stock worth $101,000 after acquiring an additional 21,955 shares during the last quarter. Simplicity Solutions LLC purchased a new position in shares of Fate Therapeutics in the 3rd quarter worth about $25,000. Finally, Brown Advisory Inc. raised its holdings in shares of Fate Therapeutics by 53.3% in the 3rd quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 6,735 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target 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. Oppenheimer reaffirmed a "market perform" rating on shares of Fate Therapeutics in a report on Tuesday, February 27th. Morgan Stanley boosted their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 27th. HC Wainwright restated a "neutral" rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.73.
Check Out Our Latest Stock Report on FATE
Fate Therapeutics Stock Up 6.3 %
Shares of NASDAQ:FATE traded up $0.24 during trading on Monday, reaching $4.04. The stock had a trading volume of 3,305,199 shares, compared to its average volume of 2,788,812. Fate Therapeutics has a fifty-two week low of $1.63 and a fifty-two week high of $8.83. The business has a fifty day moving average price of $6.59 and a 200-day moving average price of $4.62. The stock has a market cap of $459.83 million, a P/E ratio of -2.46 and a beta of 1.66.
Fate Therapeutics (NASDAQ:FATE - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.85 million. During the same period in the previous year, the firm posted ($0.58) EPS. As a group, equities analysts forecast that Fate Therapeutics will post -1.94 EPS for the current 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.
Further Reading
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