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

Fate Therapeutics, Inc. (NASDAQ:FATE) was the recipient of a large decrease in short interest in 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 volume of 2,950,000 shares, the days-to-cover ratio is presently 3.8 days.

Fate Therapeutics Price Performance

FATE traded up $0.02 on Monday, hitting $1.27. The company had a trading volume of 1,269,351 shares, compared to its average volume of 2,734,264. Fate Therapeutics has a 52-week low of $1.04 and a 52-week high of $8.83. The stock has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $3.04. The firm has a market capitalization of $144.64 million, a P/E 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) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The company had revenue of $3.07 million for the quarter, compared to analyst estimates of $0.88 million. Fate Therapeutics had a negative return on equity of 45.88% and a negative net margin of 1,325.43%. Equities research analysts expect that Fate Therapeutics will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Fate Therapeutics

In related news, Director Redmile Group, Llc acquired 397,964 shares of Fate Therapeutics stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $1.68 per share, with a total value of $668,579.52. Following the completion of the purchase, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP purchased a new stake in shares of Fate Therapeutics during the second quarter valued at approximately $63,000. DRW Securities LLC bought a new stake in Fate Therapeutics in the 2nd quarter worth approximately $71,000. Castleview Partners LLC purchased a new stake in Fate Therapeutics during the 3rd quarter valued at $73,000. SG Americas Securities LLC lifted its holdings 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 valued at $74,000 after buying an additional 10,511 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Fate Therapeutics in the 3rd quarter worth $108,000. 97.54% of the stock is currently owned by institutional investors.

Fate Therapeutics Company Profile

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.