Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Down 8.1% in December

Fate Therapeutics, Inc. (NASDAQ:FATE) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 11,200,000 shares, a decrease of 8.1% from the December 15th total of 12,190,000 shares. Based on an average daily trading volume, of 2,950,000 shares, the short-interest ratio is currently 3.8 days.

Insider Buying and Selling at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now directly owns 12,884,277 shares of the company’s stock, valued at $21,645,585.36. This represents a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fate Therapeutics

Several large investors have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new stake in Fate Therapeutics in the 2nd quarter worth about $63,000. DRW Securities LLC bought a new position in shares of Fate Therapeutics during the second quarter valued at approximately $71,000. Castleview Partners LLC purchased a new stake in shares of Fate Therapeutics in the third quarter worth approximately $73,000. SG Americas Securities LLC lifted its stake in shares of Fate Therapeutics by 30.6% during the 4th quarter. SG Americas Securities LLC now owns 44,874 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 10,511 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Fate Therapeutics during the 3rd quarter valued at $108,000. Institutional investors own 97.54% of the company’s stock.

Fate Therapeutics Stock Performance

FATE stock traded up $0.02 during trading on Monday, hitting $1.27. 1,269,351 shares of the company’s stock traded hands, compared to its average volume of 2,734,264. The business has a fifty day simple moving average of $2.03 and a 200 day simple moving average of $3.04. Fate Therapeutics has a 52 week low of $1.04 and a 52 week high of $8.83. The stock has a market capitalization of $144.64 million, a price-to-earnings ratio of -0.77 and a beta of 2.02.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.02. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. The company had revenue of $3.07 million during the quarter, compared to analyst estimates of $0.88 million. Research analysts forecast that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on FATE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Fate Therapeutics in a report on Tuesday, November 19th. Bank of America upgraded Fate Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, November 18th. Finally, Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Fate Therapeutics in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Fate Therapeutics has a consensus rating of “Hold” and a consensus price target of $6.75.

About Fate Therapeutics

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.