Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Update

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 211,200 shares, a growth of 6,111.8% from the November 15th total of 3,400 shares. Approximately 16.5% of the shares of the company are short sold. Based on an average daily volume of 520,300 shares, the days-to-cover ratio is presently 0.4 days.

Insider Buying and Selling

In other Forte Biosciences news, CFO Antony A. Riley bought 22,514 shares of Forte Biosciences stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $5.55 per share, with a total value of $124,952.70. Following the completion of the acquisition, the chief financial officer now directly owns 30,776 shares in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Forte Biosciences Trading Down 3.9 %

Forte Biosciences stock opened at $23.03 on Friday. The firm has a market cap of $33.67 million, a PE ratio of -1.41 and a beta of 1.11. The stock’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $4.86. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

Analyst Ratings Changes

Separately, Chardan Capital reiterated a “buy” rating and set a $64.00 price objective on shares of Forte Biosciences in a research note on Wednesday, December 4th.

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.