Forty Seven, Inc. (NASDAQ:FTSV) is among the top stocks that may remain in focus today as the company shares are trading 4.17% or 0.32 points higher from last closing price of $7.67, reaching $7.99 at last check. Any clue why there is so much of action in the FTSV stock? The share price has risen in 4 of the last 5 days and is down -30.21% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on solid volume too with far more shares changing hands than in a normal session. Trading activity as of this writing strengthened by 47,350 shares, and in total 112350 shares valued at $897677 were seen changing hands compared with 65000 shares valued at $498550 recorded at the previous session. You should take into consideration that a greater volume on higher prices causes bullish signal for the market. It shows the sentiment is in an uptrend and more and more traders want to enter in the FTSV stock.
Forty Seven, Inc. (FTSV) shares have notched a 3-month decline of about -30.21%, but has still tumbled -51.21% year to date. By comparison, the stock sank -44.7% over the past 12 months, while it slipped -4.12% over the 1 month. The company’s market cap is around $329.89M, with its short interest ratio standing at 6.03%.
In the current trading session for FTSV, the stock witnessed two major price actions, it rose to a high of $8 and was down as much as $7.51 at one point. The high recorded is very low when compared to their 52-week high which is $6.04. The 52-week high is now at -66.43 distance from current price. Their recent low of $23.83 represents a 32.45% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for FTSV is $20.1, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The company recorded an interesting insider purchase transaction by the Director on Jul 22, 2019. A Securities and Exchanges Commission filings show that Jeffrey W Bird bought a total of 750,000 FTSV shares that day for a sum of around $6,000,000. Forty Seven, Inc. (FTSV) insiders have acquired 1,375,000 shares in the stock within the past three months. In total, individual insiders traded 1,392,163 shares in the business, which makes up 78.298% of 1,778,036 shares that were traded over a year. In the past 12 months, insiders have purchased 1,375,000 shares while the seller parted with 403,036 shares.
FTSV‘s last price was down -42.5% as compared to the average trading price of 50 days recorded at $13.9 while enlarging the period to 200 trading days, the average closing price was $8.49. At present, there are 43.01 million in the total number of common shares owned by the public and among those 37.42 million shares have been available to trade. The percentage of shares being held by the company management was 3.5% while institutions stake was 53.9%. The company has generated negative returns on equity over the last 12 months (-69.9%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the FTSV stock, there is another set of technicals that should be looked into and considered. Its 10.1% gain from moving average of $7.26 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Forty Seven, Inc. — 7 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $26.8333 on shares of Forty Seven, Inc. (NASDAQ:FTSV), which corresponds to 235.42% upside potential than its current market price of $7.99 and implies potential despite the recent advance in the price. However, their current target price has fallen from $29.3333 a month ago and is down handily from the consensus target of $27.75 a quarter ago.