Stock Traders Purchase High Volume of Call Options on Forte Biosciences (NASDAQ:FBRX)

Key Points

• Investors bought 30,205 call options on Forte Biosciences, a surge of +1,663% versus the typical volume of 1,713 calls, signaling unusually heavy bullish/options speculation.
• Analysts hold a consensus "Moderate Buy" with a target of $67.00, despite the company recently missing quarterly EPS (‑$1.45 vs. estimate ‑$1.42) and forecasting negative full‑year EPS.
• Shares trade around $28 with a market cap of $389M, a high beta (3.20) and a 1‑year range of $6.13–$35.80, and institutional investors own about 77.63% of the stock.

Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) saw some unusual options trading on Wednesday. Investors bought 30,205 call options on the company. This represents an increase of 1,663% compared to the typical volume of 1,713 call options.

Forte Biosciences Stock Performance

Shares of FBRX opened at $28.03 on Thursday. The stock has a 50-day simple moving average of $28.41 and a 200-day simple moving average of $24.61. The stock has a market capitalization of $389.22 million, a PE ratio of -5.88 and a beta of 3.20. Forte Biosciences has a 1 year low of $6.13 and a 1 year high of $35.80.

Forte Biosciences (NASDAQ:FBRX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.03). Analysts predict that Forte Biosciences will post -4.63 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Forte Biosciences in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Forte Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Hedge Funds Weigh In On Forte Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Forte Biosciences by 6.5% in the 4th quarter. Royal Bank of Canada now owns 11,986 shares of the company's stock valued at $327,000 after buying an additional 733 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Forte Biosciences during the 4th quarter worth about $27,000. Bank of America Corp DE raised its position in shares of Forte Biosciences by 5,641.8% during the 3rd quarter. Bank of America Corp DE now owns 3,158 shares of the company's stock worth $47,000 after acquiring an additional 3,103 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Forte Biosciences by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 64,110 shares of the company's stock worth $829,000 after acquiring an additional 4,028 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Forte Biosciences by 23.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,347 shares of the company's stock worth $350,000 after acquiring an additional 4,491 shares in the last quarter. Hedge funds and other institutional investors own 77.63% of the company's stock.

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.

The company's lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.

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