Short Interest in Fate Therapeutics, Inc. (NASDAQ:FATE) Drops By 8.1%

Fate Therapeutics, Inc. (NASDAQ:FATE) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 11,200,000 shares, a drop of 8.1% from the December 15th total of 12,190,000 shares. Based on an average daily trading volume, of 2,950,000 shares, the short-interest ratio is presently 3.8 days.

Fate Therapeutics Trading Up 1.6 %

NASDAQ FATE opened at $1.27 on Monday. Fate Therapeutics has a twelve month low of $1.04 and a twelve month high of $8.83. The firm has a 50-day simple moving average of $2.03 and a 200 day simple moving average of $3.04.

Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The company had revenue of $3.07 million during the quarter, compared to the consensus estimate of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. As a group, sell-side analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $1.68 per share, with a total value of $668,579.52. Following the acquisition, the director now owns 12,884,277 shares in the company, valued at approximately $21,645,585.36. The trade was a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Fate Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of FATE. Bank of New York Mellon Corp increased its stake in Fate Therapeutics by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 374,132 shares of the biopharmaceutical company’s stock valued at $1,227,000 after acquiring an additional 72,139 shares during the period. Rhumbline Advisers boosted its holdings in Fate Therapeutics by 11.0% during the second quarter. Rhumbline Advisers now owns 160,001 shares of the biopharmaceutical company’s stock valued at $525,000 after purchasing an additional 15,825 shares in the last quarter. American Century Companies Inc. boosted its holdings in Fate Therapeutics by 26.4% during the second quarter. American Century Companies Inc. now owns 166,255 shares of the biopharmaceutical company’s stock valued at $545,000 after purchasing an additional 34,676 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Fate Therapeutics by 2.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,031,505 shares of the biopharmaceutical company’s stock valued at $3,383,000 after purchasing an additional 24,127 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Fate Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 167,055 shares of the biopharmaceutical company’s stock worth $548,000 after buying an additional 5,605 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

FATE has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Fate Therapeutics in a report on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Finally, Bank of America raised shares of Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fate Therapeutics currently has an average rating of “Hold” and an average target price of $6.75.

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.