Forty Seven (NASDAQ:FTSV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Forty Seven, Inc. is a clinical-stage immuno-oncology company. It focused on developing novel checkpoint therapies to activate macrophages in the fight against cancer. The company’s product candidate consists of 5F9, is an IgG4 monoclonal antibody against CD47 which is designed to interfere with recognition of CD47 by the SIRP? receptor on macrophages. Forty Seven, Inc. is based in CA, United States. “

Several other brokerages also recently commented on FTSV. HC Wainwright set a $21.00 target price on Forty Seven and gave the stock a “buy” rating in a report on Friday, July 12th. Oppenheimer dropped their price target on Forty Seven from $35.00 to $20.00 in a report on Wednesday, August 14th. Roth Capital began coverage on Forty Seven in a research report on Wednesday, May 29th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, ValuEngine raised Forty Seven from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $24.14.

NASDAQ:FTSV traded up $0.32 on Tuesday, reaching $7.99. The stock had a trading volume of 112,350 shares, compared to its average volume of 222,048. The company has a market capitalization of $315.35 million, a P/E ratio of -2.13 and a beta of 1.91. Forty Seven has a 1-year low of $6.04 and a 1-year high of $23.83. The stock has a fifty day moving average price of $7.78 and a 200-day moving average price of $12.80.

Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.05). As a group, equities analysts anticipate that Forty Seven will post -2.13 EPS for the current year.

In related news, insider Mark Anthony Mccamish sold 8,199 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.02, for a total value of $90,352.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Bird acquired 750,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was bought at an average price of $8.00 per share, with a total value of $6,000,000.00. The disclosure for this purchase can be found here. 37.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of FTSV. BlackRock Inc. increased its stake in shares of Forty Seven by 10.9% in the 2nd quarter. BlackRock Inc. now owns 1,263,882 shares of the company’s stock valued at $13,399,000 after buying an additional 124,286 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Forty Seven by 48.4% during the second quarter. JPMorgan Chase & Co. now owns 379,731 shares of the company’s stock valued at $3,953,000 after acquiring an additional 123,921 shares during the period. Sofinnova Investments Inc. bought a new position in Forty Seven in the second quarter valued at about $1,259,000. Candriam Luxembourg S.C.A. boosted its holdings in Forty Seven by 500.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 120,000 shares of the company’s stock valued at $1,939,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Forty Seven by 535.2% in the second quarter. Bank of America Corp DE now owns 64,170 shares of the company’s stock worth $680,000 after purchasing an additional 54,067 shares during the period. 36.17% of the stock is currently owned by hedge funds and other institutional investors.

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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