Investors Buy High Volume of Forte Biosciences Call Options (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 is an increase of approximately 1,663% compared to the average daily volume of 1,713 call options.

Forte Biosciences Trading Up 3.6 %

Shares of NASDAQ:FBRX opened at $19.70 on Thursday. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68. The business has a 50 day moving average of $13.06 and a two-hundred day moving average of $6.13. The company has a market capitalization of $28.80 million, a PE ratio of -1.21 and a beta of 1.08.

Analyst Upgrades and Downgrades

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $64.00 price target on shares of Forte Biosciences in a report on Wednesday, December 4th.

Insiders Place Their Bets

In other Forte Biosciences news, CFO Antony A. Riley acquired 22,514 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $5.55 per share, with a total value of $124,952.70. Following the acquisition, the chief financial officer now directly owns 30,776 shares of the company’s stock, valued at approximately $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 9.60% of the stock is currently owned by insiders.

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.