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

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

Insider Transactions at Forte Biosciences

In other news, CFO Antony A. Riley purchased 22,514 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the completion of the purchase, the chief financial officer now owns 30,776 shares in the company, valued at approximately $170,806.80. This represents a 272.50 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Forte Biosciences Trading Down 6.4 %

FBRX opened at $19.44 on Friday. The firm has a market cap of $28.42 million, a price-to-earnings ratio of -1.19 and a beta of 1.13. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68. The stock has a fifty day moving average price of $16.90 and a 200-day moving average price of $7.77.

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.