Forte Biosciences (NASDAQ:FBRX - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Chardan Capital in a report released on Tuesday,Benzinga reports. They presently have a $61.00 target price on the stock. Chardan Capital's target price would suggest a potential upside of 330.49% from the stock's current price.
Separately, Wall Street Zen cut shares of Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.
Check Out Our Latest Stock Analysis on Forte Biosciences
Forte Biosciences Stock Performance
Shares of NASDAQ FBRX traded up $1.41 during mid-day trading on Tuesday, reaching $14.17. The company had a trading volume of 61,769 shares, compared to its average volume of 161,442. Forte Biosciences has a twelve month low of $4.11 and a twelve month high of $28.68. The stock's 50 day moving average is $8.80 and its 200-day moving average is $11.54. The stock has a market capitalization of $93.28 million, a PE ratio of -0.87 and a beta of 2.85.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.48). On average, sell-side analysts anticipate that Forte Biosciences will post -12.12 EPS for the current year.
Institutional Trading of Forte Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company's stock worth $48,000 after acquiring an additional 2,100 shares during the period. Geode Capital Management LLC increased its stake in shares of Forte Biosciences by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 16,877 shares of the company's stock worth $383,000 after purchasing an additional 2,607 shares during the period. Garde Capital Inc. bought a new position in shares of Forte Biosciences in the first quarter worth about $31,000. AlphaQuest LLC bought a new position in Forte Biosciences in the 1st quarter worth approximately $33,000. Finally, Acuta Capital Partners LLC acquired a new position in shares of Forte Biosciences during the fourth quarter worth approximately $412,000. Institutional investors and hedge funds own 77.63% of the company's stock.
About Forte Biosciences
(
Get Free Report)
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.
Featured Stories
Before you consider Forte Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Forte Biosciences wasn't on the list.
While Forte Biosciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
