Short Interest in Fate Therapeutics, Inc. (NASDAQ:FATE) Increases By 14.7%

Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of a large growth in short interest in 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 trading volume of 2,780,000 shares, the short-interest ratio is currently 6.8 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FATE shares. Wedbush reiterated a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a research report on Thursday, April 11th. Barclays lifted their price target on Fate Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. HC Wainwright reiterated a “neutral” rating and set a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, March 19th. Finally, Bank of America lifted their price target on Fate Therapeutics from $2.00 to $6.00 and gave the company an “underperform” rating in a research report on Thursday, March 28th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.73.

Institutional Trading of Fate Therapeutics

A number of institutional investors have recently bought and sold shares of FATE. National Bank of Canada FI acquired a new stake in Fate Therapeutics during the third quarter valued at $25,000. SG Americas Securities LLC acquired a new stake in shares of Fate Therapeutics in the third quarter worth about $156,000. Exchange Traded Concepts LLC lifted its position in shares of Fate Therapeutics by 85.7% in the third quarter. Exchange Traded Concepts LLC now owns 47,566 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 21,955 shares during the last quarter. Simplicity Solutions LLC acquired a new stake in shares of Fate Therapeutics in the third quarter worth about $25,000. Finally, Brown Advisory Inc. lifted its position in shares of Fate Therapeutics by 53.3% in the third quarter. Brown Advisory Inc. now owns 19,364 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 6,735 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

Shares of FATE stock traded up $0.07 on Wednesday, reaching $4.02. 707,287 shares of the company’s stock traded hands, compared to its average volume of 2,777,357. Fate Therapeutics has a 12-month low of $1.63 and a 12-month high of $8.83. The company has a market capitalization of $457.56 million, a P/E ratio of -2.43 and a beta of 1.66. The business’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $4.64.

Fate Therapeutics (NASDAQ:FATE) last issued its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating 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 the consensus estimate of $0.85 million. During the same quarter in the previous year, the company posted ($0.58) earnings per share. Research analysts predict that Fate Therapeutics will post -1.94 earnings per share for the current year.

About Fate Therapeutics

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.