Traders Buy High Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Rating) was the target of some unusual options trading activity on Wednesday. Investors purchased 30,205 call options on the stock. This is an increase of approximately 1,663% compared to the average volume of 1,713 call options.

Analysts Set New Price Targets

Separately, Chardan Capital reissued a “neutral” rating on shares of Forte Biosciences in a research note on Monday.

Hedge Funds Weigh In On Forte Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Forte Biosciences in the first quarter worth $277,000. Millennium Management LLC acquired a new stake in shares of Forte Biosciences in the second quarter worth $77,000. Vanguard Group Inc. increased its position in shares of Forte Biosciences by 40.4% in the third quarter. Vanguard Group Inc. now owns 647,293 shares of the company’s stock worth $692,000 after acquiring an additional 186,159 shares in the last quarter. Finally, BML Capital Management LLC acquired a new stake in shares of Forte Biosciences in the fourth quarter worth $1,461,000. Institutional investors and hedge funds own 45.74% of the company’s stock.

Forte Biosciences Stock Performance

Shares of FBRX opened at $1.03 on Thursday. Forte Biosciences has a 1 year low of $0.90 and a 1 year high of $1.54. The company’s 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.02. The company has a market capitalization of $21.64 million, a price-to-earnings ratio of -1.08 and a beta of 0.66.

Forte Biosciences (NASDAQ:FBRX – Get Rating) last issued its quarterly earnings results on Friday, March 31st. The company reported ($0.24) EPS for the quarter. Equities analysts expect that Forte Biosciences will post -0.79 EPS for the current fiscal year.

About Forte Biosciences

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Forte Biosciences, Inc is a biopharmaceutical company, which engages in the provision of dermatology products and services. The firm’s lead product includes FB-401, which is a live biotherapeutic for the treatment of inflammatory skin disease, including pediatric and adult patients with atopic dermatitis.