Exane Asset Management lifted its position in shares of Forty Seven Inc (NASDAQ:FTSV) by 148.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Exane Asset Management’s holdings in Forty Seven were worth $1,083,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in FTSV. Bourgeon Capital Management LLC purchased a new stake in Forty Seven in the 4th quarter worth $6,827,000. BlackRock Inc. lifted its stake in Forty Seven by 1,203.9% in the 3rd quarter. BlackRock Inc. now owns 446,363 shares of the company’s stock worth $6,659,000 after purchasing an additional 412,129 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Forty Seven by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 346,066 shares of the company’s stock worth $5,164,000 after purchasing an additional 117,142 shares in the last quarter. Vanguard Group Inc lifted its stake in Forty Seven by 144.4% in the 3rd quarter. Vanguard Group Inc now owns 171,060 shares of the company’s stock worth $2,553,000 after purchasing an additional 101,060 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Forty Seven by 144.4% in the 3rd quarter. Vanguard Group Inc. now owns 171,060 shares of the company’s stock worth $2,553,000 after purchasing an additional 101,060 shares in the last quarter. Institutional investors and hedge funds own 43.70% of the company’s stock.
FTSV has been the topic of several research analyst reports. Zacks Investment Research cut shares of Forty Seven from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. HC Wainwright set a $21.00 price target on shares of Forty Seven and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. FIG Partners initiated coverage on shares of Forty Seven in a research note on Friday, February 1st. They issued a “buy” rating and a $30.00 price target on the stock. Oppenheimer reiterated a “buy” rating on shares of Forty Seven in a research note on Tuesday, March 19th. Finally, Guggenheim initiated coverage on shares of Forty Seven in a research note on Friday, April 12th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Forty Seven presently has a consensus rating of “Buy” and a consensus target price of $26.75.
Shares of NASDAQ FTSV traded down $0.31 during mid-day trading on Wednesday, hitting $15.73. 821 shares of the company’s stock traded hands, compared to its average volume of 182,804. The stock has a market capitalization of $557.56 million and a price-to-earnings ratio of -4.29. Forty Seven Inc has a 1 year low of $12.02 and a 1 year high of $23.83.
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 consensus estimate of ($0.60) by ($0.14). On average, equities analysts forecast that Forty Seven Inc will post -2.61 EPS for the current fiscal year.
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Forty Seven 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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