Forte Biosciences (NASDAQ:FBRX - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Chardan Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $61.00 price target on the stock. Chardan Capital's price objective would indicate a potential upside of 381.83% from the stock's current price.
Separately, Wall Street Zen cut Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.
Get Our Latest Stock Report on Forte Biosciences
Forte Biosciences Stock Performance
NASDAQ:FBRX traded up $1.25 on Tuesday, hitting $12.66. 221,322 shares of the stock were exchanged, compared to its average volume of 169,776. Forte Biosciences has a 52 week low of $4.11 and a 52 week high of $28.68. The stock has a market capitalization of $83.30 million, a price-to-earnings ratio of -0.78 and a beta of 2.85. The company's 50-day moving average price is $9.11 and its 200 day moving average price is $11.46.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last posted its earnings results 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). As a group, equities research analysts predict that Forte Biosciences will post -12.12 earnings per share for the current year.
Hedge Funds Weigh In On Forte Biosciences
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBRX. Garde Capital Inc. acquired a new stake in shares of Forte Biosciences in the 1st quarter valued at about $31,000. AlphaQuest LLC bought a new position in shares of Forte Biosciences during the first quarter worth about $33,000. JPMorgan Chase & Co. grew its holdings in shares of Forte Biosciences by 70,000.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company's stock worth $48,000 after buying an additional 2,100 shares in the last quarter. Geode Capital Management LLC raised its position in 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 buying an additional 2,607 shares during the last quarter. Finally, Acuta Capital Partners LLC bought a new stake in Forte Biosciences in the 4th quarter valued at approximately $412,000. 77.63% of the stock is owned by institutional investors and hedge funds.
Forte Biosciences Company Profile
(
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.
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