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

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 30,205 call options on the company. This is an increase of 1,663% compared to the typical volume of 1,713 call options.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Forte Biosciences in a research report on Tuesday, January 21st. They set a “buy” rating for the company. Chardan Capital reaffirmed a “buy” rating and set a $64.00 price target on shares of Forte Biosciences in a research report on Wednesday, December 4th.

Forte Biosciences Price Performance

Shares of FBRX stock opened at $10.01 on Thursday. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68. The firm has a market capitalization of $63.96 million, a P/E ratio of -0.61 and a beta of 1.09. The company’s fifty day moving average price is $17.05 and its two-hundred day moving average price is $10.68.

Hedge Funds Weigh In On Forte Biosciences

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company’s stock worth $48,000 after buying an additional 2,100 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Forte Biosciences by 18.3% in the 4th quarter. Geode Capital Management LLC now owns 16,877 shares of the company’s stock worth $383,000 after buying an additional 2,607 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in Forte Biosciences in the 4th quarter worth $412,000. Boothbay Fund Management LLC acquired a new position in Forte Biosciences in the 4th quarter worth $2,026,000. Finally, Woodline Partners LP acquired a new position in Forte Biosciences in the 4th quarter worth $4,639,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

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.