Forte Biosciences Target of Unusually Large Options Trading (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 30,205 call options on the stock. This represents an increase of 1,663% compared to the average volume of 1,713 call options.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital reiterated a “buy” rating and issued a $0.12 target price on shares of Forte Biosciences in a research note on Monday, August 19th.

Hedge Funds Weigh In On Forte Biosciences

An institutional investor recently bought a new position in Forte Biosciences stock. Cable Car Capital LLC acquired a new position in Forte Biosciences, Inc. (NASDAQ:FBRX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 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 Performance

NASDAQ FBRX opened at $5.11 on Thursday. The stock has a market cap of $186.04 million, a price-to-earnings ratio of -5.80 and a beta of 0.01. The business has a 50 day simple moving average of $3.46 and a 200 day simple moving average of $1.21. Forte Biosciences has a 52-week low of $4.86 and a 52-week high of $21.25.

Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). On average, analysts predict that Forte Biosciences will post -22.5 EPS 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.