Analysts Set Expectations for FBRX FY2030 Earnings

Forte Biosciences, Inc. (NASDAQ:FBRX) – Brookline Capital Markets issued their FY2030 earnings per share estimates for Forte Biosciences in a note issued to investors on Monday, April 6th. Brookline Capital Markets analyst K. Raja expects that the company will earn ($6.07) per share for the year. The consensus estimate for Forte Biosciences’ current full-year earnings is ($12.12) per share.

Forte Biosciences (NASDAQ:FBRX) last posted its earnings results on Tuesday, March 31st. The company reported ($1.45) EPS for the quarter, missing the consensus estimate of ($1.42) by ($0.03).

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forte Biosciences in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Forte Biosciences has an average rating of “Moderate Buy” and an average price target of $67.00.

Forte Biosciences Trading Up 0.4%

Forte Biosciences stock opened at $26.27 on Wednesday. Forte Biosciences has a 12 month low of $4.90 and a 12 month high of $35.62. The stock’s 50 day moving average is $28.33 and its 200-day moving average is $22.91. The company has a market capitalization of $364.89 million, a price-to-earnings ratio of -5.51 and a beta of 3.20.

Institutional Investors Weigh In On Forte Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in Forte Biosciences during the fourth quarter worth approximately $479,000. Millennium Management LLC grew its position in Forte Biosciences by 105.9% during the fourth quarter. Millennium Management LLC now owns 246,685 shares of the company’s stock worth $6,727,000 after buying an additional 126,873 shares in the last quarter. Janus Henderson Group PLC grew its position in Forte Biosciences by 1.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,425,785 shares of the company’s stock worth $39,159,000 after buying an additional 21,943 shares in the last quarter. 683 Capital Management LLC acquired a new stake in Forte Biosciences during the fourth quarter worth approximately $1,091,000. Finally, J. Goldman & Co LP acquired a new stake in Forte Biosciences during the fourth quarter worth approximately $1,658,000. Institutional investors and hedge funds 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.