Fate Therapeutics Inc (NASDAQ:FATE) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,301,328 shares, a growth of 28.7% from the February 15th total of 1,787,969 shares. Currently, 12.1% of the shares of the stock are short sold. Based on an average daily volume of 1,043,005 shares, the short-interest ratio is currently 2.2 days.
Shares of Fate Therapeutics (FATE) opened at $13.06 on Tuesday. The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 0.19. The stock has a market cap of $665.83, a PE ratio of -12.80 and a beta of 1.65. Fate Therapeutics has a 1 year low of $2.52 and a 1 year high of $14.45.
Fate Therapeutics (NASDAQ:FATE) last announced its earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.02 million. Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts anticipate that Fate Therapeutics will post -0.91 earnings per share for the current fiscal year.
FATE has been the subject of several research reports. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, January 9th. Raymond James Financial reissued a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. BMO Capital Markets increased their price objective on shares of Fate Therapeutics from $7.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 6th. Finally, Wedbush reissued an “outperform” rating and set a $7.00 price objective (down previously from $10.00) on shares of Fate Therapeutics in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Fate Therapeutics presently has an average rating of “Buy” and an average price target of $13.00.
About Fate Therapeutics
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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