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

Posted by on Oct 5th, 2023

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) saw some unusual options trading on Wednesday. Investors acquired 30,205 call options on the company. This is an increase of approximately 1,663% compared to the typical daily volume of 1,713 call options.

Forte Biosciences Price Performance

Shares of Forte Biosciences stock opened at $0.66 on Thursday. Forte Biosciences has a 1 year low of $0.60 and a 1 year high of $1.29. The company has a market capitalization of $23.91 million, a P/E ratio of -0.57 and a beta of 0.74. The business has a 50 day moving average price of $0.83 and a 200 day moving average price of $0.96.

Forte Biosciences (NASDAQ:FBRX – Get Free Report) last announced its quarterly earnings data on Monday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. As a group, research analysts expect that Forte Biosciences will post -0.79 EPS for the current fiscal year.

Institutional Trading of Forte Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in Forte Biosciences during the second quarter worth about $77,000. Renaissance Technologies LLC bought a new position in Forte Biosciences in the 1st quarter worth about $277,000. Vanguard Group Inc. grew its position in Forte Biosciences by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 647,293 shares of the company’s stock worth $692,000 after purchasing an additional 186,159 shares during the last quarter. Finally, BML Capital Management LLC grew its position in Forte Biosciences by 18.7% in the 1st quarter. BML Capital Management LLC now owns 1,735,075 shares of the company’s stock worth $1,752,000 after purchasing an additional 273,711 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Chardan Capital restated a “neutral” rating on shares of Forte Biosciences in a research report on Sunday, July 16th.

Get Our Latest Stock Report on FBRX

About Forte Biosciences

(Get Free Report)

Forte Biosciences, Inc operates as a biopharmaceutical company in the United States. It is developing FB-102 program that addresses various autoimmune diseases, such as graft-versus-host disease, and vitiligo and alopecia areata. The company is headquartered in Dallas, Texas.

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