Shares last traded at $4.77 which is significantly higher than $4.17, the stock’s 50 day moving average and significantly above the 200 day moving average of $3.67. The 50 day moving average was up by +14.37% whereas the 200 day average was up by +29.93%. (NASDAQ:FATE) shares saw heavy trading volume with 461K shares changing hands in the last trading session. Trading volume was up 95.57% over the stocks average daily volume.
Traders are more bullish on shares of Fate Therapeutics, Inc. lately as inferred by the decrease in short interest. The stock experienced a fall in short interest between September 29, 2017 and October 13, 2017 of -9.29%. Short shares decreased 115,209 over that timeframe. With short interest at 1,124,840 and short average daily volume at 213,573, days to cover is 5.0 and the percentage of shorted shares was 0.03% on October 13.
These funds have shifted positions in (FATE). As of quarter end 683 Capital Management, LLC had acquired 118,237 shares growing its holdings by 25.2%. The value in dollars decreased from $2,139,000 to $1,906,000 a change of $233,000 quarter to quarter. As of the end of the quarter Neuberger Berman Group LLC had sold a total of 18,900 shares trimming its stake by 27.6%. The value of the investment in FATE went from $312,000 to $161,000 a change of 48.4% since the last quarter.
As of quarter end Telemetry Investments, L.l.c. had bought a total of 75,700 shares growing its position 50.5%. The value of the investment in (FATE) went from $682,000 to $731,000 increasing 7.2% for the reporting period. TCI Wealth Advisors, Inc. bolstered its ownership by buying 800 shares an increase of 100.0% as of 09/30/2017. TCI Wealth Advisors, Inc. currently owns 1,600 shares valued at $6,000. The value of the position overall is up by 100.0%.
H.C. Wainwright starting coverage on FATE setting a rating of “Buy” and a price target of $7.00.
As of the latest earnings report the EPS was $-0.96 and is projected to be $-0.97 for the current year with 41,415,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.25 with next year’s EPS anticipated to be $-0.94.
Fate Therapeutics, Inc. (Fate Therapeutics), launched on April 27, 2007, is a clinical-stage biopharmaceutical company. The Company is involved in development of programmed cellular immunotherapies for cancer and immune disorders. The Business’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. The Company programs immune cells, such as CD34+ cells, Natural Killer (NK) cells and T cells, by utilizing its cell programming approach. Its adoptive cell therapy programs are based on the Business’s ex vivo cell programming approach, which it applies to modulate the therapeutic function and direct the fate of immune cells..