Fate Therapeutics, Inc. (NASDAQ:FATE) Short Interest Down 14.1% in February

Fate Therapeutics, Inc. (NASDAQ:FATE) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 9,563,527 shares, a decline of 14.1% from the February 12th total of 11,128,203 shares. Currently, 8.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,749,529 shares, the short-interest ratio is presently 5.5 days. Based on an average daily trading volume, of 1,749,529 shares, the short-interest ratio is presently 5.5 days. Currently, 8.7% of the shares of the company are sold short.

Fate Therapeutics Price Performance

Fate Therapeutics stock traded down $0.03 during midday trading on Tuesday, reaching $1.14. The stock had a trading volume of 994,111 shares, compared to its average volume of 1,681,655. Fate Therapeutics has a twelve month low of $0.66 and a twelve month high of $1.94. The firm has a market cap of $131.96 million, a price-to-earnings ratio of -0.99 and a beta of 2.18. The firm’s fifty day simple moving average is $1.24 and its two-hundred day simple moving average is $1.18.

Fate Therapeutics (NASDAQ:FATE) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, meeting the consensus estimate of ($0.27). Fate Therapeutics had a negative net margin of 2,051.08% and a negative return on equity of 55.02%. The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $1.20 million. As a group, sell-side analysts predict that Fate Therapeutics will post -1.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Fate Therapeutics in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fate Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new stake in Fate Therapeutics in the 4th quarter worth approximately $26,000. Savant Capital LLC acquired a new position in Fate Therapeutics during the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC bought a new position in shares of Fate Therapeutics in the second quarter valued at approximately $28,000. Corient Private Wealth LLC bought a new position in shares of Fate Therapeutics in the fourth quarter valued at approximately $29,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Fate Therapeutics in the fourth quarter worth $35,000. 97.54% of the stock is owned by institutional investors.

About Fate Therapeutics

Fate Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of first‐in‐class cellular immunotherapies for cancer and immune disorders. The company leverages its proprietary induced pluripotent stem cell (iPSC) platform to create off‐the‐shelf natural killer (NK) and T‐cell products designed to overcome limitations of donor‐derived approaches. Fate’s research aims to deliver therapies with consistent quality, increased potency and scalable manufacturing for broad patient access.

Central to Fate’s pipeline are multiple iPSC‐derived cell therapy candidates in active clinical development.