Forte Biosciences (NASDAQ:FBRX - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.
Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Forte Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Chardan Capital reiterated a "buy" rating and issued a $61.00 price objective on shares of Forte Biosciences in a research note on Friday, August 15th. Finally, Guggenheim started coverage on shares of Forte Biosciences in a research note on Monday, August 18th. They issued a "buy" rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.
Read Our Latest Research Report on Forte Biosciences
Forte Biosciences Trading Up 1.0%
NASDAQ FBRX opened at $14.37 on Wednesday. The company has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $10.13. The stock has a market cap of $178.62 million, a P/E ratio of -0.88 and a beta of 3.03. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.21) by $0.25. As a group, sell-side analysts forecast that Forte Biosciences will post -12.12 earnings per share for the current year.
Institutional Trading of Forte Biosciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of Forte Biosciences in the second quarter valued at about $13,864,000. Orbimed Advisors LLC grew its position in shares of Forte Biosciences by 101.8% in the second quarter. Orbimed Advisors LLC now owns 1,196,955 shares of the company's stock valued at $15,477,000 after purchasing an additional 603,867 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Forte Biosciences in the second quarter valued at about $4,310,000. Cable Car Capital LP grew its position in shares of Forte Biosciences by 127.7% in the second quarter. Cable Car Capital LP now owns 500,000 shares of the company's stock valued at $6,465,000 after purchasing an additional 280,396 shares during the period. Finally, Tybourne Capital Management HK Ltd. grew its position in shares of Forte Biosciences by 26.9% in the second quarter. Tybourne Capital Management HK Ltd. now owns 786,647 shares of the company's stock valued at $10,171,000 after purchasing an additional 166,666 shares during the period. 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.
Further Reading
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