Tybourne Capital Management HK Ltd. Acquires 166,666 Shares of Forte Biosciences, Inc. $FBRX

Tybourne Capital Management HK Ltd. increased its holdings in shares of Forte Biosciences, Inc. (NASDAQ:FBRX) by 26.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 786,647 shares of the company’s stock after acquiring an additional 166,666 shares during the quarter. Forte Biosciences comprises 29.4% of Tybourne Capital Management HK Ltd.’s portfolio, making the stock its biggest holding. Tybourne Capital Management HK Ltd. owned 0.12% of Forte Biosciences worth $10,171,000 as of its most recent SEC filing.

Separately, AlphaQuest LLC acquired a new position in shares of Forte Biosciences during the 1st quarter worth approximately $33,000. 77.63% of the stock is currently owned by institutional investors and hedge funds.

Forte Biosciences Price Performance

Shares of NASDAQ FBRX opened at $12.11 on Monday. The stock’s fifty day moving average price is $12.63 and its two-hundred day moving average price is $10.69. Forte Biosciences, Inc. has a one year low of $4.11 and a one year high of $28.68. The firm has a market cap of $150.53 million, a price-to-earnings ratio of -1.76 and a beta of 3.03.

Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.25. On average, equities analysts anticipate that Forte Biosciences, Inc. will post -12.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Forte Biosciences in a report on Wednesday, October 8th. Guggenheim assumed coverage on Forte Biosciences in a report on Monday, August 18th. They set a “buy” rating and a $75.00 target price on the stock. Wall Street Zen lowered Forte Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Chardan Capital reissued a “buy” rating and set a $61.00 target price on shares of Forte Biosciences in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.00.

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.