Several other research firms have also recently commented on FTSV. Zacks Investment Research raised Forty Seven from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Tuesday, May 14th. Oppenheimer cut their price target on Forty Seven from $35.00 to $20.00 in a report on Wednesday, August 14th. Roth Capital started coverage on Forty Seven in a report on Wednesday, May 29th. They issued a buy rating and a $28.00 price target for the company. Finally, HC Wainwright set a $21.00 price target on Forty Seven and gave the company a buy rating in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $25.86.
NASDAQ:FTSV opened at $7.52 on Friday. Forty Seven has a one year low of $6.04 and a one year high of $23.83. The stock has a market cap of $235.82 million, a PE ratio of -2.01 and a beta of 1.86. The stock has a 50 day moving average price of $8.92 and a 200 day moving average price of $13.64.
In other Forty Seven news, Director Jeffrey W. Bird acquired 750,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was bought 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Anthony Mccamish sold 8,199 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.02, for a total value of $90,352.98. The disclosure for this sale can be found here. Corporate insiders own 37.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. purchased a new position in Forty Seven in the first quarter worth approximately $32,000. BNP Paribas Arbitrage SA purchased a new position in Forty Seven in the first quarter worth approximately $48,000. Metropolitan Life Insurance Co NY purchased a new position in Forty Seven in the first quarter worth approximately $88,000. MetLife Investment Advisors LLC purchased a new position in Forty Seven in the first quarter worth approximately $122,000. Finally, Bank of America Corp DE grew its position in Forty Seven by 177.3% in the fourth quarter. Bank of America Corp DE now owns 9,757 shares of the company’s stock worth $153,000 after acquiring an additional 6,239 shares during the period. Institutional investors own 48.49% of the company’s stock.
About Forty Seven
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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