Ravindra Majeti Sells 15,000 Shares of Forty Seven Inc (NASDAQ:FTSV) Stock

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Forty Seven Inc (NASDAQ:FTSV) Director Ravindra Majeti sold 15,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.26, for a total transaction of $153,900.00. Following the transaction, the director now owns 1,221,400 shares in the company, valued at $12,531,564. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

FTSV traded up $1.08 during trading hours on Wednesday, reaching $12.05. The company’s stock had a trading volume of 748,900 shares, compared to its average volume of 219,112. The company’s 50-day moving average is $7.22 and its 200-day moving average is $9.33. Forty Seven Inc has a 52 week low of $5.53 and a 52 week high of $23.83. The firm has a market cap of $451.93 million, a PE ratio of -3.21 and a beta of 1.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.48 and a current ratio of 7.48.

Forty Seven (NASDAQ:FTSV) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.38) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.38). The company had revenue of $15.68 million for the quarter, compared to the consensus estimate of $15.80 million. Equities analysts anticipate that Forty Seven Inc will post -2.63 earnings per share for the current fiscal year.

Several research firms have issued reports on FTSV. Oppenheimer dropped their price target on shares of Forty Seven from $35.00 to $20.00 in a research report on Wednesday, August 14th. Guggenheim began coverage on shares of Forty Seven in a research report on Wednesday. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of Forty Seven in a research note on Wednesday, November 13th. Zacks Investment Research cut shares of Forty Seven from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Finally, ValuEngine upgraded shares of Forty Seven from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Forty Seven currently has an average rating of “Buy” and a consensus price target of $22.75.

Several institutional investors and hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co NY acquired a new stake in shares of Forty Seven during the 1st quarter worth about $88,000. Swiss National Bank bought a new stake in shares of Forty Seven during the 2nd quarter worth about $184,000. Wells Fargo & Company MN grew its stake in Forty Seven by 151.8% in the 2nd quarter. Wells Fargo & Company MN now owns 22,367 shares of the company’s stock valued at $238,000 after buying an additional 13,483 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Forty Seven by 48.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,731 shares of the company’s stock valued at $3,953,000 after buying an additional 123,921 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in Forty Seven in the 2nd quarter valued at about $552,000. 38.11% of the stock is currently owned by 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.

Read More: Stock Symbols and CUSIP Explained

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