Traders Purchase Large Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRXGet Free Report) was the target of unusually large options trading activity on Wednesday. Traders bought 30,205 call options on the stock. This represents an increase of approximately 1,663% compared to the typical volume of 1,713 call options.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. LADENBURG THALM/SH SH upgraded Forte Biosciences from a “neutral” rating to a “buy” rating and set a $2.75 target price for the company in a report on Monday, April 8th. Brookline Capital Management began coverage on Forte Biosciences in a research report on Thursday, May 30th. They set a “buy” rating and a $4.00 price objective for the company.

View Our Latest Stock Report on FBRX

Forte Biosciences Trading Up 4.3 %

Forte Biosciences stock opened at $0.48 on Thursday. The stock has a market cap of $17.49 million, a P/E ratio of -0.55 and a beta of 0.21. The company has a fifty day simple moving average of $0.63 and a 200-day simple moving average of $0.68. Forte Biosciences has a 12-month low of $0.38 and a 12-month high of $1.04.

Forte Biosciences (NASDAQ:FBRXGet Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter. As a group, sell-side analysts forecast that Forte Biosciences will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forte Biosciences

A hedge fund recently bought a new stake in Forte Biosciences stock. Fred Alger Management LLC bought a new stake in Forte Biosciences, Inc. (NASDAQ:FBRXFree Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,838,965 shares of the company’s stock, valued at approximately $1,217,000. Fred Alger Management LLC owned about 5.07% of Forte Biosciences at the end of the most recent reporting period. Institutional investors 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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