Forty Seven Inc (NASDAQ:FTSV) Director Sells $324,400.00 in Stock

Forty Seven Inc (NASDAQ:FTSV) Director Irving Weissman sold 20,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $16.22, for a total transaction of $324,400.00. Following the transaction, the director now owns 1,196,400 shares of the company’s stock, valued at approximately $19,405,608. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of FTSV opened at $35.75 on Friday. Forty Seven Inc has a 1-year low of $5.53 and a 1-year high of $42.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.48 and a quick ratio of 7.48. The firm has a fifty day moving average price of $12.59 and a 200 day moving average price of $9.57.

Forty Seven (NASDAQ:FTSV) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.38) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.38). The company had revenue of $15.68 million during the quarter, compared to analysts’ expectations of $15.80 million. As a group, equities analysts expect that Forty Seven Inc will post -2.53 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Redmile Group LLC lifted its position in Forty Seven by 595.5% in the third quarter. Redmile Group LLC now owns 1,627,498 shares of the company’s stock valued at $10,449,000 after acquiring an additional 1,393,498 shares during the last quarter. California State Teachers Retirement System lifted its position in Forty Seven by 36.2% in the third quarter. California State Teachers Retirement System now owns 34,644 shares of the company’s stock valued at $222,000 after acquiring an additional 9,216 shares during the last quarter. State Street Corp lifted its position in Forty Seven by 17.7% in the third quarter. State Street Corp now owns 313,510 shares of the company’s stock valued at $2,013,000 after acquiring an additional 47,178 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Forty Seven by 5,976.5% in the third quarter. Tower Research Capital LLC TRC now owns 4,132 shares of the company’s stock valued at $27,000 after acquiring an additional 4,064 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Forty Seven in the third quarter valued at $73,000. 54.31% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on FTSV shares. Mizuho reiterated a “buy” rating and set a $37.00 target price (up previously from $18.00) on shares of Forty Seven in a research note on Tuesday. ValuEngine downgraded shares of Forty Seven from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup boosted their target price on shares of Forty Seven from $20.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday. Credit Suisse Group reiterated an “outperform” rating and set a $18.00 target price (up previously from $15.00) on shares of Forty Seven in a research note on Thursday, December 5th. Finally, Guggenheim reiterated a “buy” rating and set a $48.00 target price (up previously from $20.00) on shares of Forty Seven in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.09.

Forty Seven Company Profile

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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