Forte Biosciences (NASDAQ:FBRX) Earns Buy Rating from Analysts at TD Cowen

TD Cowen began coverage on shares of Forte Biosciences (NASDAQ:FBRX) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating on the stock.

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

Forte Biosciences Price Performance

Shares of NASDAQ:FBRX opened at $15.88 on Tuesday. The business has a 50-day moving average of $18.86 and a two-hundred day moving average of $8.82. The firm has a market capitalization of $23.18 million, a PE ratio of -0.97 and a beta of 1.13. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

Insider Buying and Selling at Forte Biosciences

In other news, CFO Antony A. Riley acquired 22,514 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were bought 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 directly owns 30,776 shares of the company’s stock, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

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.