Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Update

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 16,490,000 shares, an increase of 25.3% from the March 15th total of 13,160,000 shares. Based on an average daily volume of 2,860,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 19.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fate Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Fate Therapeutics by 149.9% in the first quarter. State Street Corp now owns 14,830,084 shares of the biopharmaceutical company’s stock worth $84,531,000 after acquiring an additional 8,894,625 shares during the period. Point72 Asset Management L.P. increased its position in Fate Therapeutics by 4,653.6% in the fourth quarter. Point72 Asset Management L.P. now owns 3,489,163 shares of the biopharmaceutical company’s stock worth $13,049,000 after buying an additional 3,415,762 shares in the last quarter. Millennium Management LLC lifted its position in shares of Fate Therapeutics by 347.1% during the 4th quarter. Millennium Management LLC now owns 2,864,476 shares of the biopharmaceutical company’s stock valued at $28,903,000 after buying an additional 2,223,752 shares in the last quarter. BlackRock Inc. increased its holdings in Fate Therapeutics by 18.0% in the 1st quarter. BlackRock Inc. now owns 11,476,243 shares of the biopharmaceutical company’s stock worth $65,415,000 after acquiring an additional 1,750,019 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Fate Therapeutics by 350.9% during the first quarter. Bank of America Corp DE now owns 2,154,529 shares of the biopharmaceutical company’s stock valued at $12,281,000 after purchasing an additional 1,676,652 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FATE. Needham & Company LLC reiterated a “hold” rating on shares of Fate Therapeutics in a report on Thursday. BMO Capital Markets lifted their target price on shares of Fate Therapeutics from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 27th. Oppenheimer restated a “market perform” rating on shares of Fate Therapeutics in a research report on Tuesday, February 27th. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Fate Therapeutics in a research note on Tuesday, March 19th. Finally, Wedbush raised their target price on Fate Therapeutics from $3.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average target price of $6.73.

Fate Therapeutics Stock Down 2.3 %

NASDAQ:FATE traded down $0.13 during trading hours on Monday, reaching $5.64. 2,687,398 shares of the company traded hands, compared to its average volume of 2,795,961. Fate Therapeutics has a 1 year low of $1.63 and a 1 year high of $8.83. The business’s 50-day moving average price is $7.00 and its two-hundred day moving average price is $4.41.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data 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. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $0.85 million. Fate Therapeutics had a negative net margin of 253.30% and a negative return on equity of 38.17%. During the same period last year, the business earned ($0.58) EPS. On average, research analysts anticipate that Fate Therapeutics will post -1.94 earnings per share for the current fiscal year.

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.