Bourgeon Capital Management LLC lowered its position in Forty Seven Inc (NASDAQ:FTSV) by 16.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,633 shares of the company’s stock after selling 71,677 shares during the quarter. Forty Seven comprises approximately 3.4% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Bourgeon Capital Management LLC owned 1.16% of Forty Seven worth $5,860,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in FTSV. BNP Paribas Arbitrage SA acquired a new position in shares of Forty Seven during the first quarter valued at approximately $48,000. Essex Investment Management Co. LLC acquired a new position in shares of Forty Seven during the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund acquired a new position in Forty Seven in the fourth quarter worth approximately $101,000. Bank of America Corp DE grew its position in Forty Seven by 177.3% in the fourth quarter. Bank of America Corp DE now owns 9,757 shares of the company’s stock worth $153,000 after buying an additional 6,239 shares during the last quarter. Finally, Teachers Advisors LLC acquired a new position in Forty Seven in the third quarter worth approximately $157,000. Institutional investors own 43.70% of the company’s stock.
Forty Seven stock traded down $0.08 during midday trading on Wednesday, reaching $12.46. The stock had a trading volume of 231,300 shares, compared to its average volume of 179,249. The firm has a market capitalization of $393.24 million and a price-to-earnings ratio of -3.32. Forty Seven Inc has a twelve month low of $10.50 and a twelve month high of $23.83.
Forty Seven (NASDAQ:FTSV) last issued its earnings results on Monday, May 13th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.14). Equities analysts expect that Forty Seven Inc will post -2.85 earnings per share for the current year.
In other Forty Seven news, Director Ravindra Majeti sold 35,000 shares of Forty Seven stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $17.83, for a total transaction of $624,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Irving Weissman sold 26,384 shares of Forty Seven stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $16.98, for a total transaction of $448,000.32. The disclosure for this sale can be found here. Insiders have sold a total of 179,695 shares of company stock valued at $3,170,097 in the last three months. Company insiders own 37.40% of the company’s stock.
FTSV has been the topic of several recent research reports. FIG Partners initiated coverage on shares of Forty Seven in a research report on Friday, February 1st. They issued a “buy” rating and a $30.00 price target on the stock. HC Wainwright set a $21.00 price target on shares of Forty Seven and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Oppenheimer reaffirmed a “buy” rating on shares of Forty Seven in a research note on Tuesday, March 19th. Guggenheim began coverage on shares of Forty Seven in a research note on Friday, April 12th. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of Forty Seven from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Forty Seven has an average rating of “Buy” and an average target price of $26.75.
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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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