Forte Biosciences Sees Unusually Large Options Volume (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) saw unusually large options trading on Wednesday. Stock investors bought 30,205 call options on the company. This represents an increase of approximately 1,663% compared to the average volume of 1,713 call options.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Chardan Capital restated a “buy” rating and issued a $3.00 price target on shares of Forte Biosciences in a research report on Monday, August 19th. Brookline Capital Management assumed coverage on Forte Biosciences in a research report on Thursday, May 30th. They issued a “buy” rating and a $4.00 price target on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Forte Biosciences stock. Cable Car Capital LLC purchased a new stake in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,031,987 shares of the company’s stock, valued at approximately $1,670,000. Forte Biosciences makes up about 1.9% of Cable Car Capital LLC’s investment portfolio, making the stock its 18th biggest position. Cable Car Capital LLC owned approximately 5.59% of Forte Biosciences as of its most recent SEC filing. 77.63% of the stock is owned by hedge funds and other institutional investors.

Forte Biosciences Stock Down 3.9 %

Forte Biosciences stock opened at $7.30 on Thursday. Forte Biosciences has a 12-month low of $6.99 and a 12-month high of $22.87. The business’s 50-day moving average price is $1.35 and its two-hundred day moving average price is $0.90. The stock has a market cap of $10.66 million and a PE ratio of -8.30.

Forte Biosciences (NASDAQ:FBRX) last released its earnings results on Wednesday, August 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). As a group, analysts expect that Forte Biosciences will post -22.5 earnings per share for the current year.

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.