Forty Seven Inc (NASDAQ:FTSV) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 2,028,200 shares, an increase of 15.4% from the April 30th total of 1,757,500 shares. Based on an average daily trading volume, of 207,800 shares, the days-to-cover ratio is presently 9.8 days. Approximately 15.1% of the company’s shares are short sold.
In other Forty Seven news, Director Irving Weissman sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $15.98, for a total transaction of $159,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris H. Takimoto sold 8,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $16.39, for a total value of $131,120.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,311 shares of company stock worth $1,998,221. Company insiders own 37.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new stake in Forty Seven during the 1st quarter worth $32,000. BNP Paribas Arbitrage SA acquired a new stake in Forty Seven during the 1st quarter worth $48,000. Essex Investment Management Co. LLC acquired a new stake in Forty Seven during the 4th quarter worth $70,000. Metropolitan Life Insurance Co NY acquired a new stake in Forty Seven during the 1st quarter worth $88,000. Finally, New York State Common Retirement Fund acquired a new stake in Forty Seven during the 4th quarter worth $101,000. 47.34% of the stock is currently owned by institutional investors.
Shares of FTSV stock traded up $0.24 during trading hours on Wednesday, reaching $10.73. The company had a trading volume of 200,400 shares, compared to its average volume of 184,153. The company has a market cap of $347.77 million and a P/E ratio of -2.86. Forty Seven has a 1-year low of $9.90 and a 1-year high of $23.83.
Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.14). Analysts predict that Forty Seven will post -2.72 EPS for the current year.
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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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