Zacks Investment Research downgraded shares of Forty Seven (NASDAQ:FTSV) from a buy rating to a hold rating in a research note 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. “

FTSV has been the subject of a number of other reports. Roth Capital initiated coverage on shares of Forty Seven in a research report on Wednesday, May 29th. They set a buy rating and a $28.00 price target for the company. Oppenheimer decreased their price objective on shares of Forty Seven from $35.00 to $20.00 in a research report on Wednesday, August 14th. HC Wainwright set a $21.00 price objective on shares of Forty Seven and gave the company a buy rating in a research report on Friday, July 12th. Finally, ValuEngine raised shares of Forty Seven from a hold rating to a buy rating in a research report on Friday, August 16th. Ten investment analysts have rated the stock with a buy rating, Forty Seven presently has an average rating of Buy and an average target price of $23.50.

Forty Seven stock traded up $0.22 during trading on Tuesday, reaching $8.08. 6,091 shares of the company’s stock were exchanged, compared to its average volume of 176,407. The company’s 50-day moving average is $7.77 and its two-hundred day moving average is $12.76. Forty Seven has a 52-week low of $6.04 and a 52-week high of $23.83. The firm has a market cap of $331.85 million, a price-to-earnings ratio of -2.15 and a beta of 1.91.

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

In other news, insider Mark Anthony Mccamish sold 8,199 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.02, for a total transaction of $90,352.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lightspeed Venture Partners X, purchased 625,000 shares of Forty Seven stock in a transaction dated Monday, July 22nd. The shares were bought at an average cost of $8.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. Corporate insiders own 37.40% of the company’s stock.

Several hedge funds have recently modified their holdings of FTSV. Bank of America Corp DE lifted its position in shares of Forty Seven by 177.3% during the fourth quarter. Bank of America Corp DE now owns 9,757 shares of the company’s stock worth $153,000 after purchasing an additional 6,239 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Forty Seven during the first quarter worth about $48,000. Rhumbline Advisers acquired a new stake in Forty Seven during the first quarter worth about $281,000. Candriam Luxembourg S.C.A. raised its stake in Forty Seven by 500.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 120,000 shares of the company’s stock worth $1,939,000 after acquiring an additional 100,000 shares during the period. Finally, Exane Asset Management raised its stake in Forty Seven by 148.1% during the first quarter. Exane Asset Management now owns 67,000 shares of the company’s stock worth $1,083,000 after acquiring an additional 40,000 shares during the period. 36.17% of the stock is currently owned by institutional investors and hedge funds.

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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