Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors acquired 30,205 call options on the company. This is an increase of 1,663% compared to the average volume of 1,713 call options.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Forte Biosciences in a report on Tuesday, January 21st. They issued a "buy" rating on the stock. Chardan Capital cut their price target on shares of Forte Biosciences from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st.
View Our Latest Report on FBRX
Forte Biosciences Trading Up 11.8%
Shares of Forte Biosciences stock opened at $7.60 on Thursday. The company's 50-day moving average price is $6.63 and its 200-day moving average price is $11.78. The company has a market cap of $50.03 million, a price-to-earnings ratio of -0.47 and a beta of 2.82. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FBRX. AlphaQuest LLC bought a new position in Forte Biosciences during the first quarter valued at approximately $33,000. Garde Capital Inc. bought a new position in Forte Biosciences during the first quarter valued at approximately $31,000. Woodline Partners LP bought a new position in Forte Biosciences during the fourth quarter valued at approximately $4,639,000. Tybourne Capital Management HK Ltd. grew its position in Forte Biosciences by 327.6% during the fourth quarter. Tybourne Capital Management HK Ltd. now owns 619,981 shares of the company's stock valued at $14,080,000 after acquiring an additional 475,000 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new position in Forte Biosciences during the fourth quarter valued at approximately $13,626,000. 77.63% of the stock is currently owned by institutional investors.
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.
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