Short Interest in Fate Therapeutics Inc (FATE) Rises By 28.7%
Fate Therapeutics Inc (NASDAQ:FATE) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,301,328 shares, a growth of 28.7% from the February 15th total of 1,787,969 shares. Currently, 12.1% of the shares of the stock are short sold. Based on an average daily volume of 1,043,005 shares, the short-interest ratio is currently 2.2 days.
Fate Therapeutics (FATE) opened at $11.73 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.29 and a quick ratio of 9.29. Fate Therapeutics has a 1-year low of $2.52 and a 1-year high of $14.45. The company has a market cap of $598.02, a PE ratio of -11.50 and a beta of 1.65.
Fate Therapeutics (NASDAQ:FATE) last announced its quarterly earnings results on Monday, March 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.05). Fate Therapeutics had a negative net margin of 1,046.08% and a negative return on equity of 71.00%. The business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $1.02 million. The firm’s revenue for the quarter was up .0% on a year-over-year basis. research analysts expect that Fate Therapeutics will post -0.91 earnings per share for the current year.
Several research analysts have commented on FATE shares. Zacks Investment Research raised shares of Fate Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, January 19th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Fate Therapeutics in a report on Wednesday, December 13th. Raymond James Financial reaffirmed a “buy” rating on shares of Fate Therapeutics in a report on Tuesday, December 12th. ValuEngine raised shares of Fate Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, UBS Group downgraded shares of Fate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Fate Therapeutics has an average rating of “Buy” and an average price target of $13.00.
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About Fate Therapeutics
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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