Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 30,205 call options on the stock. This is an increase of 1,663% compared to the typical daily volume of 1,713 call options.
Forte Biosciences Stock Up 5.4 %
Shares of NASDAQ:FBRX opened at $0.78 on Friday. The company’s fifty day moving average is $0.70 and its two-hundred day moving average is $0.64. Forte Biosciences has a 12-month low of $0.38 and a 12-month high of $1.15. The company has a market cap of $28.39 million, a P/E ratio of -0.75 and a beta of 0.48.
Forte Biosciences (NASDAQ:FBRX – Get Free Report) last announced its earnings results on Monday, March 18th. The company reported ($0.04) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Forte Biosciences will post -0.46 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on Forte Biosciences
Hedge Funds Weigh In On Forte Biosciences
Several institutional investors and hedge funds have recently modified their holdings of the stock. BML Capital Management LLC grew its holdings in shares of 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 acquiring an additional 26,627 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Forte Biosciences by 14.4% during the 2nd quarter. Renaissance Technologies LLC now owns 216,700 shares of the company’s stock valued at $282,000 after acquiring an additional 27,300 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Forte Biosciences during the 2nd quarter valued at $77,000. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 186,159 shares in the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Forte Biosciences during the 3rd quarter valued at $1,217,000. 77.63% of the stock is currently owned by hedge funds and other institutional investors.
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.
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