Stock Traders Purchase Large Volume of Call Options on Forte Biosciences (NASDAQ:FBRX)

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FBRX. Chardan Capital reiterated a “buy” rating and issued a $64.00 target price on shares of Forte Biosciences in a report on Wednesday, December 4th. TD Cowen began coverage on shares of Forte Biosciences in a research report on Tuesday, January 21st. They set a “buy” rating for the company.

Institutional Investors Weigh In On Forte Biosciences

A number of large investors have recently modified their holdings of FBRX. JPMorgan Chase & Co. boosted its holdings in Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,100 shares during the period. Geode Capital Management LLC lifted its position in shares of Forte Biosciences by 18.3% during the fourth quarter. Geode Capital Management LLC now owns 16,877 shares of the company’s stock worth $383,000 after purchasing an additional 2,607 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Forte Biosciences during the fourth quarter worth $412,000. Boothbay Fund Management LLC purchased a new position in shares of Forte Biosciences in the fourth quarter valued at $2,026,000. Finally, Woodline Partners LP acquired a new stake in Forte Biosciences during the 4th quarter valued at $4,639,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

Forte Biosciences Price Performance

NASDAQ:FBRX opened at $10.01 on Thursday. The business’s 50-day moving average is $17.05 and its two-hundred day moving average is $10.68. The firm has a market capitalization of $63.96 million, a PE ratio of -0.61 and a beta of 1.09. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

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.