Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Up 17.0% in April

Fate Therapeutics, Inc. (NASDAQ:FATE - Get Free Report) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 22,140,000 shares, a growth of 17.0% from the April 15th total of 18,920,000 shares. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is presently 8.5 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FATE. BMO Capital Markets dropped their price target on shares of Fate Therapeutics from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Friday, May 10th. StockNews.com cut shares of Fate Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, May 10th. Bank of America raised their price target on shares of Fate Therapeutics from $2.00 to $6.00 and gave the company an "underperform" rating in a research note on Thursday, March 28th. Morgan Stanley lifted their price objective on Fate Therapeutics from $3.00 to $7.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group lowered their target price on shares of Fate Therapeutics from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.58.

Fate Therapeutics Trading Down 2.4 %

NASDAQ FATE traded down $0.10 during trading hours on Thursday, reaching $4.14. The company had a trading volume of 1,589,476 shares, compared to its average volume of 2,833,798. The stock has a market capitalization of $471.26 million, a P/E ratio of -2.21 and a beta of 1.80. The stock has a 50-day moving average of $5.84 and a 200 day moving average of $4.79. Fate Therapeutics has a 1-year low of $1.63 and a 1-year high of $8.83.

Fate Therapeutics (NASDAQ:FATE - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, hitting analysts' consensus estimates of ($0.47). The company had revenue of $1.93 million for the quarter, compared to analysts' expectations of $0.80 million. Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, sell-side analysts predict that Fate Therapeutics will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Fate Therapeutics

Institutional investors have recently bought and sold shares of the company. Epiq Partners LLC purchased a new stake in Fate Therapeutics during the 4th quarter worth approximately $38,000. Simplicity Wealth LLC purchased a new stake in shares of Fate Therapeutics during the first quarter worth approximately $81,000. Fox Run Management L.L.C. acquired a new stake in Fate Therapeutics in the third quarter valued at approximately $25,000. RPO LLC purchased a new position in Fate Therapeutics in the fourth quarter worth approximately $46,000. Finally, Victory Capital Management Inc. grew its holdings in Fate Therapeutics by 22.8% during 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 in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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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