Woodline Partners LP Takes $4.64 Million Position in Forte Biosciences, Inc. (NASDAQ:FBRX)

Woodline Partners LP purchased a new stake in shares of Forte Biosciences, Inc. (NASDAQ:FBRX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 204,275 shares of the company's stock, valued at approximately $4,639,000. Woodline Partners LP owned 3.20% of Forte Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FBRX. JPMorgan Chase & Co. grew its stake in shares of Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company's stock valued at $48,000 after purchasing an additional 2,100 shares during the period. Geode Capital Management LLC grew its stake in shares of Forte Biosciences by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 16,877 shares of the company's stock valued at $383,000 after purchasing an additional 2,607 shares during the period. Acuta Capital Partners LLC bought a new stake in shares of Forte Biosciences in the 4th quarter valued at approximately $412,000. Boothbay Fund Management LLC bought a new stake in shares of Forte Biosciences in the 4th quarter valued at approximately $2,026,000. Finally, BVF Inc. IL grew its stake in shares of Forte Biosciences by 398.2% in the 4th quarter. BVF Inc. IL now owns 594,282 shares of the company's stock valued at $13,496,000 after purchasing an additional 475,000 shares during the period. 77.63% of the stock is currently owned by institutional investors.

Forte Biosciences Price Performance

Shares of FBRX traded down $1.06 on Thursday, hitting $8.61. The company's stock had a trading volume of 20,087 shares, compared to its average volume of 157,169. The company has a market capitalization of $56.68 million, a PE ratio of -0.52 and a beta of 2.82. Forte Biosciences, Inc. has a fifty-two week low of $4.11 and a fifty-two week high of $28.68. The company has a 50 day moving average price of $7.04 and a 200 day moving average price of $12.04.

Forte Biosciences (NASDAQ:FBRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.48). On average, equities analysts forecast that Forte Biosciences, Inc. will post -12.12 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FBRX shares. Chardan Capital lowered their price objective on Forte Biosciences from $64.00 to $61.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Wall Street Zen lowered Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Forte Biosciences Company Profile

Forte Biosciences, Inc operates as a biopharmaceutical company in the United States. The company is developing FB-102 program that addresses various autoimmune diseases, such as graft-versus-host disease, and vitiligo and alopecia areata. Forte Biosciences, Inc is headquartered in Dallas, Texas.