AWM Investment Company Inc. purchased a new stake in Forte Biosciences, Inc. (NASDAQ:FBRX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 222,500 shares of the company's stock, valued at approximately $4,728,000. AWM Investment Company Inc. owned approximately 1.60% of Forte Biosciences at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Forte Biosciences by 6.5% during the fourth quarter. Royal Bank of Canada now owns 11,986 shares of the company's stock worth $327,000 after purchasing an additional 733 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Forte Biosciences in the 4th quarter valued at about $27,000. Bank of America Corp DE grew its stake in shares of Forte Biosciences by 5,641.8% in the 3rd quarter. Bank of America Corp DE now owns 3,158 shares of the company's stock valued at $47,000 after buying an additional 3,103 shares during the period. Geode Capital Management LLC grew its stake in shares of Forte Biosciences by 6.7% in the 2nd quarter. Geode Capital Management LLC now owns 64,110 shares of the company's stock valued at $829,000 after buying an additional 4,028 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Forte Biosciences by 23.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,347 shares of the company's stock valued at $350,000 after buying an additional 4,491 shares during the period. Institutional investors and hedge funds own 77.63% of the company's stock.
Forte Biosciences Stock Performance
Shares of NASDAQ:FBRX opened at $76.97 on Wednesday. The company has a 50-day simple moving average of $51.63 and a 200-day simple moving average of $35.01. Forte Biosciences, Inc. has a one year low of $10.11 and a one year high of $77.20. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -16.55 and a beta of 2.62.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.03. As a group, research analysts forecast that Forte Biosciences, Inc. will post -4.27 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Wall Street Zen downgraded Forte Biosciences from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 25th. TD Cowen cut shares of Forte Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Evercore set a $77.00 target price on shares of Forte Biosciences in a research note on Monday, July 27th. Brookline Capital Markets cut shares of Forte Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Barclays downgraded shares of Forte Biosciences from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $74.00 to $77.00 in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $71.67.
View Our Latest Report on FBRX
Forte Biosciences Profile
(
Free Report)
Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.
The company's lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.
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