Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 2,193,779 shares, a growth of 264.6% from the June 15th total of 601,629 shares. Currently, 6.5% of the shares of the stock are short sold. Based on an average trading volume of 584,814 shares, the short-interest ratio is presently 3.8 days.
A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position 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 worth $655,000 after buying an additional 119,200 shares during the period. Driehaus Capital Management LLC bought a new stake in Fate Therapeutics during the first quarter worth about $145,000. EcoR1 Capital LLC bought a new stake in Fate Therapeutics during the first quarter worth about $11,543,000. KCG Holdings Inc. increased its stake in Fate Therapeutics by 7.8% in the first quarter. KCG Holdings Inc. now owns 24,480 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,764 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Fate Therapeutics by 40.9% in the first quarter. Renaissance Technologies LLC now owns 295,700 shares of the biopharmaceutical company’s stock worth $1,345,000 after buying an additional 85,800 shares during the period. 60.47% of the stock is currently owned by institutional investors.
Separately, Wedbush reiterated an “outperform” rating and issued a $7.00 price target on shares of Fate Therapeutics in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $6.25.
Fate Therapeutics (FATE) opened at 2.79 on Monday. Fate Therapeutics has a 12-month low of $1.80 and a 12-month high of $5.68. The company’s market capitalization is $115.51 million. The stock has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.69.
Fate Therapeutics (NASDAQ:FATE) last posted its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.03. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%. The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.04 million. On average, analysts expect that Fate Therapeutics will post ($1.00) EPS for the current year.
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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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