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

Forte Biosciences, Inc. (NASDAQ:FBRXGet Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors bought 30,205 call options on the company. This is an increase of approximately 1,663% compared to the average volume of 1,713 call options.

Hedge Funds Weigh In On Forte Biosciences

A number of hedge funds have recently made changes to their positions in the business. Cable Car Capital LLC purchased a new stake in Forte Biosciences during the 4th quarter worth $1,670,000. Fred Alger Management LLC purchased a new stake in Forte Biosciences during the 3rd quarter worth $1,217,000. BML Capital Management LLC increased 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 worth $1,166,000 after buying an additional 26,627 shares during the period. Vanguard Group Inc. increased 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 worth $692,000 after buying an additional 186,159 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Forte Biosciences by 105.0% during the 3rd quarter. Renaissance Technologies LLC now owns 444,129 shares of the company’s stock worth $475,000 after buying an additional 227,429 shares during the period. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Forte Biosciences Trading Up 3.0 %

Shares of FBRX stock opened at $0.74 on Thursday. The company’s fifty day simple moving average is $0.68 and its 200-day simple moving average is $0.64. Forte Biosciences has a 52 week low of $0.38 and a 52 week high of $1.29. The company has a market cap of $26.90 million, a PE ratio of -0.71 and a beta of 0.48.

Forte Biosciences (NASDAQ:FBRXGet Free Report) last issued its earnings results on Monday, March 18th. The company reported ($0.04) EPS for the quarter. Equities research analysts expect that Forte Biosciences will post -0.41 EPS for the current fiscal year.

Forte Biosciences Company Profile

(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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