Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of 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 shares of the company are short sold. Based on an average trading volume of 584,814 shares, the short-interest ratio is currently 3.8 days.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Fate Therapeutics by 35.3% in the first quarter. Creative Planning now owns 23,000 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 6,000 shares during the period. KCG Holdings Inc. increased its position 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 during the period. Driehaus Capital Management LLC bought a new position in shares of Fate Therapeutics during the first quarter valued at about $145,000. Hillsdale Investment Management Inc. bought a new position in shares of Fate Therapeutics during the first quarter valued at about $160,000. Finally, Segantii Capital Management Ltd bought a new position in shares of Fate Therapeutics during the first quarter valued at about $182,000. Institutional investors own 60.74% of the company’s stock.
Shares of Fate Therapeutics (NASDAQ FATE) opened at 2.80 on Tuesday. The company’s market capitalization is $115.92 million. The company’s 50-day moving average price is $3.11 and its 200-day moving average price is $3.70. Fate Therapeutics has a 52-week low of $1.80 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 consensus estimate of ($0.21) by $0.03. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.04 million. Fate Therapeutics had a negative return on equity of 75.93% and a negative net margin of 857.34%. Equities research analysts forecast that Fate Therapeutics will post ($1.00) EPS for the current fiscal year.
A number of brokerages have recently issued reports on FATE. Wedbush reissued an “outperform” rating and issued a $7.00 target price on shares of Fate Therapeutics in a report on Tuesday, May 16th. ValuEngine cut Fate Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued 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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