Geode Capital Management LLC Increases Position in Forte Biosciences, Inc. (NASDAQ:FBRX)

Geode Capital Management LLC raised its position in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) by 18.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,877 shares of the company’s stock after purchasing an additional 2,607 shares during the quarter. Geode Capital Management LLC owned 0.26% of Forte Biosciences worth $383,000 at the end of the most recent quarter.

Separately, JPMorgan Chase & Co. grew its stake 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 acquiring an additional 2,100 shares during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.

Forte Biosciences Stock Performance

NASDAQ:FBRX opened at $6.96 on Friday. Forte Biosciences, Inc. has a 52-week low of $4.11 and a 52-week high of $28.68. The firm has a market capitalization of $45.81 million, a PE ratio of -0.43 and a beta of 2.52. The stock has a 50-day simple moving average of $6.84 and a two-hundred day simple moving average of $11.68.

Wall Street Analyst Weigh In

Several analysts recently commented on FBRX shares. Chardan Capital cut their price objective on Forte Biosciences from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. TD Cowen began coverage on shares of Forte Biosciences in a report on Tuesday, January 21st. They set a “buy” rating for the company.

Forte Biosciences Company Profile

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.