Fate Therapeutics, Inc. (NASDAQ:FATE) Sees Large Decline in Short Interest

Fate Therapeutics, Inc. (NASDAQ:FATEGet Free Report) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 20,810,000 shares, a decrease of 6.0% from the April 30th total of 22,140,000 shares. Based on an average daily volume of 2,590,000 shares, the days-to-cover ratio is presently 8.0 days.

Fate Therapeutics Stock Performance

FATE stock opened at $3.67 on Tuesday. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The stock’s fifty day moving average price is $4.85 and its 200-day moving average price is $4.94.

Fate Therapeutics (NASDAQ:FATEGet Free Report) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.47). Fate Therapeutics had a negative return on equity of 46.49% and a negative net margin of 2,933.79%. The company had revenue of $1.93 million for the quarter, compared to the consensus estimate of $0.80 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, sell-side analysts expect that Fate Therapeutics will post -1.9 EPS for the current year.

Institutional Trading of Fate Therapeutics

Several large investors have recently added to or reduced their stakes in FATE. Victory Capital Management Inc. raised its position in Fate Therapeutics by 22.8% in the fourth 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 during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Fate Therapeutics by 15.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,299 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 7,916 shares during the period. Epiq Partners LLC purchased a new position in Fate Therapeutics during the fourth quarter valued at $38,000. Simplicity Wealth LLC purchased a new position in Fate Therapeutics during the first quarter valued at $81,000. Finally, Fox Run Management L.L.C. bought a new stake in Fate Therapeutics during the third quarter valued at about $25,000. 97.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Fate Therapeutics from $3.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 27th. Piper Sandler cut their price objective on shares of Fate Therapeutics from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Wedbush reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Monday, May 6th. Oppenheimer reiterated a “market perform” rating on shares of Fate Therapeutics in a research note on Tuesday, February 27th. Finally, 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 report on Thursday, March 28th. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.58.

Check Out Our Latest Report on FATE

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.

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