Altrinsic Global Advisors LLC acquired a new position in shares of Forty Seven Inc (NASDAQ:FTSV) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 21,957 shares of the company’s stock, valued at approximately $355,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in Forty Seven during the first quarter worth approximately $32,000. BNP Paribas Arbitrage SA acquired a new stake in Forty Seven during the first quarter worth approximately $48,000. Citigroup Inc. grew its stake in Forty Seven by 173.8% during the first quarter. Citigroup Inc. now owns 4,189 shares of the company’s stock worth $68,000 after purchasing an additional 2,659 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Forty Seven during the fourth quarter worth approximately $70,000. Finally, New York State Common Retirement Fund acquired a new stake in Forty Seven during the fourth quarter worth approximately $101,000. Institutional investors own 47.34% of the company’s stock.
FTSV has been the subject of a number of research reports. Roth Capital initiated 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. Zacks Investment Research raised Forty Seven from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, May 14th. HC Wainwright set a $21.00 price objective on Forty Seven and gave the company a “buy” rating in a research note on Tuesday, May 14th. Guggenheim initiated coverage on Forty Seven in a research note on Friday, April 12th. They issued a “buy” rating for the company. Finally, Oppenheimer reissued a “buy” rating on shares of Forty Seven in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Forty Seven has an average rating of “Buy” and an average price target of $26.89.
Shares of Forty Seven stock opened at $10.81 on Thursday. Forty Seven Inc has a 52 week low of $10.34 and a 52 week high of $23.83. The company has a market capitalization of $353.73 million and a price-to-earnings ratio of -2.88.
Forty Seven (NASDAQ:FTSV) last announced its earnings results on Monday, May 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.14). Equities research analysts expect that Forty Seven Inc will post -2.72 EPS for the current fiscal year.
In related news, insider Chris H. Takimoto sold 8,000 shares of Forty Seven stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $16.39, for a total transaction of $131,120.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Anthony Mccamish sold 16,500 shares of Forty Seven stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $12.10, for a total value of $199,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,811 shares of company stock worth $2,921,746. 37.40% of the stock is owned by insiders.
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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