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

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

Forte Biosciences Price Performance

FBRX stock opened at $15.00 on Thursday. The company has a 50-day simple moving average of $19.60 and a 200 day simple moving average of $9.85. The company has a market capitalization of $95.85 million, a P/E ratio of -0.92 and a beta of 1.09. Forte Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $28.68.

Insider Buying and Selling

In other news, CFO Antony A. Riley purchased 22,514 shares of Forte Biosciences stock in a transaction dated Thursday, November 21st. The stock was bought 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 owns 30,776 shares in the company, valued at $170,806.80. The trade was a 272.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FBRX has been the subject of a number of analyst reports. TD Cowen assumed coverage on shares of Forte Biosciences in a research note on Tuesday, January 21st. They set a “buy” rating for the company. Chardan Capital reiterated a “buy” rating and set a $64.00 price objective on shares of Forte Biosciences in a research report 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.