Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 30,205 call options on the stock. This is an increase of 1,663% compared to the typical volume of 1,713 call options.
Hedge Funds Weigh In On Forte Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in FBRX. AlphaQuest LLC acquired a new stake in shares of Forte Biosciences in the first quarter valued at about $33,000. Garde Capital Inc. purchased a new position in Forte Biosciences in the first quarter valued at about $31,000. Woodline Partners LP purchased a new position in Forte Biosciences in the fourth quarter valued at about $4,639,000. Tybourne Capital Management HK Ltd. lifted its position in shares of Forte Biosciences by 327.6% during the 4th 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 period. Finally, Orbimed Advisors LLC purchased a new stake in shares of Forte Biosciences during the 4th quarter worth approximately $13,626,000. 77.63% of the stock is owned by institutional investors and hedge funds.
Forte Biosciences Price Performance
NASDAQ FBRX traded down $0.90 on Friday, hitting $10.55. 96,634 shares of the company's stock were exchanged, compared to its average volume of 173,621. The firm has a market cap of $69.42 million, a price-to-earnings ratio of -0.65 and a beta of 2.97. The firm's 50-day moving average price is $10.35 and its two-hundred day moving average price is $10.85. 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 announced its quarterly earnings data 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). On average, research analysts predict that Forte Biosciences will post -12.12 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on FBRX. Chardan Capital reissued 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 shares of Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.
Check Out Our Latest Report on Forte Biosciences
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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