Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 30,205 call options on the stock. This represents an increase of 1,663% compared to the typical daily volume of 1,713 call options.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on FBRX shares. Chardan Capital reiterated a "buy" rating and issued a $61.00 price objective on shares of Forte Biosciences in a research note on Tuesday, June 24th. Wall Street Zen lowered Forte Biosciences from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.
View Our Latest Analysis on Forte Biosciences
Forte Biosciences Trading Up 7.9%
NASDAQ FBRX traded up $0.85 during trading hours on Friday, reaching $11.60. 45,340 shares of the company's stock were exchanged, compared to its average volume of 71,358. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68. The stock has a market cap of $76.33 million, a PE ratio of -0.71 and a beta of 2.97. The firm has a fifty day moving average of $11.04 and a 200-day moving average of $9.94.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($1.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.48). As a group, research analysts forecast that Forte Biosciences will post -12.12 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of FBRX. Garde Capital Inc. acquired a new position in Forte Biosciences during the 1st quarter worth $31,000. AlphaQuest LLC acquired a new position in Forte Biosciences during the 1st quarter worth $33,000. JPMorgan Chase & Co. lifted its holdings in Forte Biosciences by 70,000.0% during the 4th 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 lifted its holdings in Forte Biosciences by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 16,877 shares of the company's stock worth $383,000 after buying an additional 2,607 shares in the last quarter. Finally, Acuta Capital Partners LLC bought a new position in shares of Forte Biosciences in the 4th quarter worth $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.
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