Forte Biosciences, Inc. (NASDAQ:FBRX - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 30,205 call options on the company. This represents an increase of approximately 1,663% compared to the average volume of 1,713 call options.
Insider Activity
In related news, CFO Antony A. Riley acquired 22,514 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.55 per share, with a total value of $124,952.70. Following the acquisition, the chief financial officer now owns 30,776 shares in the company, valued at approximately $170,806.80. The trade was a 272.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by insiders.
Forte Biosciences Trading Down 8.4 %
NASDAQ:FBRX traded down $1.09 during mid-day trading on Friday, hitting $11.91. 45,637 shares of the company's stock traded hands, compared to its average volume of 42,649. The firm has a market capitalization of $76.10 million, a price-to-earnings ratio of -0.73 and a beta of 1.09. The firm has a 50 day moving average of $19.17 and a two-hundred day moving average of $10.06. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on FBRX shares. TD Cowen started coverage on 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 objective on shares of Forte Biosciences in a report on Wednesday, December 4th.
Read Our Latest Stock Analysis on Forte Biosciences
Forte Biosciences Company Profile
(
Get Free Report)
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.
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