Several other research firms also recently weighed in on FTSV. Zacks Investment Research upgraded Forty Seven from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Tuesday, May 14th. Roth Capital began coverage on Forty Seven in a research note on Wednesday, May 29th. They set a buy rating and a $28.00 price target on the stock. HC Wainwright set a $21.00 price target on Forty Seven and gave the company a buy rating in a research note on Friday, July 12th. Finally, Oppenheimer dropped their price target on Forty Seven from $35.00 to $20.00 in a research note on Wednesday, August 14th. Nine investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of $25.86.
Shares of FTSV stock opened at $7.52 on Friday. The stock’s fifty day moving average price is $8.92 and its 200 day moving average price is $13.64. The company has a market cap of $235.82 million, a price-to-earnings ratio of -2.01 and a beta of 1.86. Forty Seven has a 1-year low of $6.04 and a 1-year high of $23.83.
In other news, insider Mark Anthony Mccamish sold 8,301 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $11.04, for a total value of $91,643.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Lightspeed Venture Partners X, bought 625,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was bought at an average price of $8.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. 37.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in shares of Forty Seven in the first quarter worth about $32,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Forty Seven in the first quarter worth about $48,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Forty Seven in the first quarter worth about $88,000. MetLife Investment Advisors LLC purchased a new stake in shares of Forty Seven in the first quarter worth about $122,000. Finally, Bank of America Corp DE boosted its stake in shares of 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 buying an additional 6,239 shares during the last quarter. Hedge funds and other 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.
Featured Article: What are benefits of a growth and income fund?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Forty Seven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forty Seven and related companies with MarketBeat.com's FREE daily email newsletter.