5 Most Shorted Stocks Hedge Funds Are Buying

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In this piece, we’ll take a look at the 5 Most Shorted Stocks Hedge Funds Are Buying. For more such companies, go to 15 Most Shorted Stocks Hedge Funds Are Buying.

5. Fate Therapeutics, Inc. (NASDAQ:FATE)

Short % of Float (Nov 29, 2022): 29.20%

Number of Hedge Fund Holders: 28

Fate Therapeutics, Inc. (NASDAQ:FATE) is a clinical-stage biopharmaceutical company that develops cell therapies for the treatment of cancer and other diseases. The company’s main focus is on developing therapies that use cells derived from human pluripotent stem cells, which are cells that can develop into any cell type in the body. The company’s lead product candidate, FT516, is a natural killer (NK) cell therapy that is being developed for the treatment of acute myeloid leukemia (AML) and other hematologic cancers.

Robyn Karnauskas, an analyst at Truist, has a price of $46 on Fate Therapeutics, Inc. (NASDAQ:FATE) and keeps a Buy rating on the stock. The analyst’s bullish view of the company is because of Fate Therapeutics, Inc. (NASDAQ:FATE)’s strong iPSC-derived platform. On the contrary, Andrea Tan, an analyst at Goldman Sachs, recently started covering Fate Therapeutics, Inc. (NASDAQ:FATE) with a sell rating and a price target of $10. The analyst has a bearish view of the company as he believes that the company’s datapoints are still early-stage and the industry is currently crowded.

As per Insider Monkey’s database, 28 hedge funds remained bullish on Fate Therapeutics, Inc. (NASDAQ:FATE) at the end of the third quarter. Redmile Group had the biggest stake in the company at the end of the third quarter.

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