Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 30,205 call options on the company. This is an increase of 1,663% compared to the typical volume of 1,713 call options.
Institutional Investors Weigh In On Forte Biosciences
A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of Forte Biosciences by 70,000.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company's stock valued at $48,000 after acquiring an additional 2,100 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $383,000 after acquiring an additional 2,607 shares during the period. Garde Capital Inc. bought a new stake in shares of Forte Biosciences in the first quarter valued at about $31,000. AlphaQuest LLC bought a new stake in shares of Forte Biosciences in the first quarter valued at about $33,000. Finally, Acuta Capital Partners LLC bought a new stake in shares of Forte Biosciences in the fourth quarter valued at about $412,000. Institutional investors own 77.63% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on FBRX shares. Wall Street Zen cut shares of Forte Biosciences from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Chardan Capital reaffirmed a "buy" rating and set a $61.00 price objective on shares of Forte Biosciences in a research report on Tuesday, June 24th.
Check Out Our Latest Research Report on Forte Biosciences
Forte Biosciences Price Performance
FBRX stock traded up $0.84 during midday trading on Friday, reaching $12.25. 352,690 shares of the company were exchanged, compared to its average volume of 171,609. The business has a 50-day moving average price of $9.21 and a two-hundred day moving average price of $11.21. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68. The firm has a market capitalization of $80.61 million, a price-to-earnings ratio of -0.75 and a beta of 2.85.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($1.37) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.48). As a group, analysts anticipate that Forte Biosciences will post -12.12 earnings per share for the current fiscal year.
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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