Forte Biosciences, Inc. $FBRX Stake Boosted by AlphaQuest LLC

AlphaQuest LLC grew its stake in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) by 300.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,897 shares of the company’s stock after buying an additional 12,680 shares during the quarter. AlphaQuest LLC owned about 0.26% of Forte Biosciences worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Chardan Capital restated a “buy” rating and set a $61.00 price target on shares of Forte Biosciences in a research report on Friday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Forte Biosciences in a research report on Friday. Wall Street Zen upgraded Forte Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Guggenheim assumed coverage on Forte Biosciences in a research report on Monday, August 18th. They issued a “buy” rating and a $75.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Forte Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Forte Biosciences Price Performance

Shares of FBRX opened at $12.94 on Monday. The firm’s 50 day moving average is $12.81 and its 200-day moving average is $10.98. The stock has a market capitalization of $160.84 million, a P/E ratio of -1.88 and a beta of 2.98. Forte Biosciences, Inc. has a 12-month low of $4.11 and a 12-month high of $28.68.

Forte Biosciences (NASDAQ:FBRX) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.25. As a group, equities research analysts forecast that Forte Biosciences, Inc. will post -12.12 EPS for the current fiscal year.

About Forte Biosciences

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.