Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors bought 30,205 call options on the company. This is an increase of 1,663% compared to the typical daily volume of 1,713 call options.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on FBRX shares. 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. Wall Street Zen lowered Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.
Get Our Latest Research Report on Forte Biosciences
Forte Biosciences Stock Performance
Shares of FBRX stock opened at $12.48 on Thursday. The stock's fifty day moving average is $10.19 and its two-hundred day moving average is $10.96. The firm has a market capitalization of $82.12 million, a P/E ratio of -0.77 and a beta of 2.97. Forte Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $28.68.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.48). On average, equities analysts forecast that Forte Biosciences will post -12.12 earnings per share for the current year.
Hedge Funds Weigh In On Forte Biosciences
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position 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 purchasing an additional 2,100 shares during the last quarter. Garde Capital Inc. purchased a new position in Forte Biosciences in the 1st quarter valued at $31,000. AlphaQuest LLC purchased a new position in Forte Biosciences in the 1st quarter valued at $33,000. Geode Capital Management LLC grew 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 purchased a new position in Forte Biosciences in the 4th quarter valued at $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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