Fate Therapeutics, Inc. (FATE) Sees Significant Growth in Short Interest
Fate Therapeutics, Inc. (NASDAQ:FATE) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 2,193,779 shares, an increase of 264.6% from the June 15th total of 601,629 shares. Approximately 6.5% of the company’s shares are short sold. Based on an average daily volume of 584,814 shares, the short-interest ratio is currently 3.8 days.
Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Fate Therapeutics by 479.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,053 shares of the biopharmaceutical company’s stock valued at $655,000 after buying an additional 119,200 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Fate Therapeutics during the first quarter valued at about $145,000. EcoR1 Capital LLC purchased a new stake in shares of Fate Therapeutics during the first quarter valued at about $11,543,000. KCG Holdings Inc. raised its stake in shares of Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,764 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Fate Therapeutics by 40.9% in the first quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock valued at $1,345,000 after buying an additional 85,800 shares in the last quarter. Institutional investors and hedge funds own 60.46% of the company’s stock.
Shares of Fate Therapeutics (FATE) opened at 3.09 on Friday. The firm’s market cap is $127.93 million. The company’s 50-day moving average is $3.41 and its 200-day moving average is $3.65. Fate Therapeutics has a 52-week low of $1.55 and a 52-week high of $5.68.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.04 million. Fate Therapeutics had a negative net margin of 857.34% and a negative return on equity of 75.93%. Equities research analysts forecast that Fate Therapeutics will post ($1.00) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on FATE. Roth Capital set a $8.00 price objective on shares of Fate Therapeutics and gave the stock a “buy” rating in a report on Saturday, March 18th. Wedbush reiterated an “outperform” rating and set a $7.00 price objective on shares of Fate Therapeutics in a report on Tuesday, May 16th. Finally, HC Wainwright cut their price objective on shares of Fate Therapeutics from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, March 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Fate Therapeutics currently has an average rating of “Buy” and an average target price of $6.25.
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Fate Therapeutics Company Profile
Fate Therapeutics, Inc (Fate Therapeutics) is a clinical-stage biopharmaceutical company. The Company is engaged in development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s cell therapy pipeline consists of immuno-oncology programs, including cancer immunotherapies derived from engineered induced pluripotent cells, and immuno-regulatory programs, including hematopoietic cell immunotherapies for protecting the immune system of patients undergoing hematopoietic cell transplantation and for suppressing autoimmunity.
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