Traders Purchase Large Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

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

Insider Activity

In related news, CFO Antony A. Riley acquired 22,514 shares of Forte Biosciences stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the transaction, the chief financial officer now directly owns 30,776 shares of the company’s stock, valued at $170,806.80. This trade represents a 272.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

Forte Biosciences Stock Performance

Shares of FBRX stock opened at $15.99 on Thursday. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $28.68. The firm has a market capitalization of $23.38 million, a PE ratio of -0.98 and a beta of 1.13. The stock has a fifty day moving average of $18.66 and a two-hundred day moving average of $8.77.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FBRX. TD Cowen initiated coverage on shares of Forte Biosciences in a report on Tuesday. They set a “buy” rating for the company. Chardan Capital reiterated a “buy” rating and issued a $64.00 price objective on shares of Forte Biosciences in a research report on Wednesday, December 4th.

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.