Forty Seven Inc (NASDAQ:FTSV) was up 17.5% during trading on Monday . The stock traded as high as $7.66 and last traded at $7.52, approximately 288,539 shares were traded during mid-day trading. An increase of 24% from the average daily volume of 231,937 shares. The stock had previously closed at $6.40.
Several research analysts recently commented on FTSV shares. Roth Capital started coverage on Forty Seven in a research note on Wednesday, May 29th. They issued a “buy” rating and a $28.00 price objective for the company. Oppenheimer cut their target price on Forty Seven from $35.00 to $20.00 in a research note on Wednesday, August 14th. Zacks Investment Research raised Forty Seven from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, May 14th. ValuEngine raised Forty Seven from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, HC Wainwright set a $21.00 target price on Forty Seven and gave the stock a “buy” rating in a research note on Friday, July 12th. Nine analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $25.86.
The firm has a market capitalization of $200.70 million, a price-to-earnings ratio of -2.01 and a beta of 1.86. The business has a 50 day simple moving average of $8.79 and a 200-day simple moving average of $13.57.
Forty Seven (NASDAQ:FTSV) last issued its earnings results on Tuesday, August 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.05). Analysts predict that Forty Seven Inc will post -2.32 EPS for the current year.
In other Forty Seven news, Director Jeffrey W. Bird purchased 750,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $6,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Lightspeed Venture Partners X, purchased 625,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were acquired at an average price of $8.00 per share, with a total value of $5,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 37.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in shares of Forty Seven in the second quarter valued at approximately $552,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Forty Seven by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 709,796 shares of the company’s stock valued at $7,524,000 after purchasing an additional 14,591 shares during the period. Citadel Advisors LLC increased its holdings in shares of Forty Seven by 8.5% in the second quarter. Citadel Advisors LLC now owns 510,309 shares of the company’s stock valued at $5,409,000 after purchasing an additional 39,871 shares during the period. Bank of America Corp DE boosted its stake in shares of Forty Seven by 535.2% in the second quarter. Bank of America Corp DE now owns 64,170 shares of the company’s stock valued at $680,000 after buying an additional 54,067 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Forty Seven by 1.2% in the second quarter. Vanguard Group Inc. now owns 499,451 shares of the company’s stock valued at $5,294,000 after buying an additional 5,741 shares in the last quarter. Institutional investors and hedge funds own 48.49% of the company’s stock.
About Forty Seven (NASDAQ:FTSV)
Forty Seven Inc, a clinical-stage immuno-oncology company, focuses on developing therapies to activate macrophages for the treatment of cancer. It is developing 5F9, a humanized IgG4 subclass monoclonal antibody against CD47 that is in Phase 1b/2 clinical trials used for the treatment of cancer; FSI-189, an antibody that binds to SIRPa; and FSI-174, an anti-cKIT antibody.
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