Brookline Capital Markets Weighs in on FBRX FY2030 Earnings

Forte Biosciences, Inc. (NASDAQ:FBRX) – Research analysts at Brookline Capital Markets issued their FY2030 EPS estimates for Forte Biosciences in a report released on Monday, April 6th. Brookline Capital Markets analyst K. Raja expects that the company will earn ($6.07) per share for the year. The consensus estimate for Forte Biosciences’ current full-year earnings is ($12.12) per share.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forte Biosciences in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Forte Biosciences has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Forte Biosciences Stock Down 1.0%

Forte Biosciences stock opened at $26.17 on Wednesday. The company’s 50-day moving average price is $28.40 and its 200-day moving average price is $22.89. The company has a market cap of $363.40 million, a PE ratio of -5.49 and a beta of 3.20. Forte Biosciences has a twelve month low of $4.90 and a twelve month high of $35.62.

Forte Biosciences (NASDAQ:FBRX) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($1.45) EPS for the quarter, missing the consensus estimate of ($1.42) by ($0.03).

Hedge Funds Weigh In On Forte Biosciences

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in Forte Biosciences by 52.5% in the third quarter. Federated Hermes Inc. now owns 1,635,380 shares of the company’s stock worth $24,531,000 after purchasing an additional 563,147 shares during the period. Mink Brook Asset Management LLC boosted its stake in shares of Forte Biosciences by 109.1% during the third quarter. Mink Brook Asset Management LLC now owns 81,312 shares of the company’s stock valued at $1,220,000 after purchasing an additional 42,419 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Forte Biosciences during the fourth quarter valued at $479,000. Hudson Bay Capital Management LP bought a new position in shares of Forte Biosciences in the fourth quarter worth about $451,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Forte Biosciences in the 4th quarter worth about $431,000. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical-stage biotechnology company focused on developing innovative treatments to restore skin health by targeting the underlying biology of the skin barrier and microbiome. Headquartered in San Diego, California, Forte leverages proprietary platforms to discover and advance topical live biotherapeutic products and skin barrier therapies aimed at addressing serious dermatological conditions.

The company’s lead product candidate, FB-401, is a topical live biotherapeutic formulation designed to rebalance the skin microbiome in patients with atopic dermatitis.