Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock investors bought 30,205 call options on the company. This is an increase of approximately 1,663% compared to the average daily volume of 1,713 call options.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Chardan Capital restated a "buy" rating and set a $61.00 price objective on shares of Forte Biosciences in a research note on Tuesday, June 24th. Wall Street Zen cut Forte Biosciences from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.
View Our Latest Analysis on FBRX
Institutional Trading of Forte Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted 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 worth $48,000 after buying an additional 2,100 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $383,000 after buying an additional 2,607 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of Forte Biosciences in the first quarter worth about $31,000. AlphaQuest LLC acquired a new stake in shares of Forte Biosciences in the first quarter worth about $33,000. Finally, Acuta Capital Partners LLC acquired a new stake in shares of Forte Biosciences in the fourth quarter worth about $412,000. Institutional investors and hedge funds own 77.63% of the company's stock.
Forte Biosciences Price Performance
Shares of FBRX traded down $0.90 during trading hours on Friday, hitting $10.55. 96,634 shares of the company were exchanged, compared to its average volume of 174,311. The company has a market capitalization of $69.45 million, a PE ratio of -0.65 and a beta of 2.97. The firm has a fifty day simple moving average of $10.35 and a 200-day simple moving average of $10.78. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68.
Forte Biosciences (NASDAQ:FBRX - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.48). Sell-side analysts expect that Forte Biosciences will post -12.12 EPS for the current 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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