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Forte Biosciences Sees Unusually Large Options Volume (NASDAQ:FBRX)

Forte Biosciences logo with Medical background

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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