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

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

Forte Biosciences Price Performance

FBRX opened at $0.74 on Thursday. The company has a market capitalization of $26.93 million, a price-to-earnings ratio of -0.71 and a beta of 0.48. Forte Biosciences has a 1-year low of $0.38 and a 1-year high of $1.15. The business has a 50 day moving average price of $0.70 and a two-hundred day moving average price of $0.64.

Forte Biosciences (NASDAQ:FBRX) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.04) EPS for the quarter. Equities analysts expect that Forte Biosciences will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH upgraded Forte Biosciences from a “neutral” rating to a “buy” rating and set a $2.75 target price for the company in a research report on Monday, April 8th.

Institutional Investors Weigh In On Forte Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of FBRX. Renaissance Technologies LLC acquired a new stake in shares of Forte Biosciences during the 1st quarter valued at $277,000. Millennium Management LLC acquired a new stake in Forte Biosciences during the 2nd quarter valued at $77,000. Vanguard Group Inc. raised its stake in Forte Biosciences by 40.4% during the 3rd quarter. Vanguard Group Inc. now owns 647,293 shares of the company’s stock valued at $692,000 after purchasing an additional 186,159 shares during the period. BML Capital Management LLC raised its stake in Forte Biosciences by 1.5% during the 3rd quarter. BML Capital Management LLC now owns 1,761,702 shares of the company’s stock valued at $1,166,000 after purchasing an additional 26,627 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in Forte Biosciences during the 3rd quarter valued at $1,217,000. 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.