Forte Biosciences Target of Unusually Large Options Trading (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) saw some unusual options trading on Wednesday. Stock investors purchased 30,205 call options on the stock. This represents an increase of approximately 1,663% compared to the typical daily volume of 1,713 call options.

Hedge Funds Weigh In On Forte Biosciences

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of 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 in the last quarter. Geode Capital Management LLC grew 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. Boothbay Fund Management LLC bought a new position in shares of Forte Biosciences during the 4th quarter valued at about $2,026,000. Acuta Capital Partners LLC bought a new position in shares of Forte Biosciences during the 4th quarter valued at approximately $412,000. Finally, BVF Inc. IL increased its stake in Forte Biosciences by 398.2% during the fourth quarter. BVF Inc. IL now owns 594,282 shares of the company’s stock worth $13,496,000 after acquiring an additional 475,000 shares during the last quarter. 77.63% of the stock is owned by hedge funds and other institutional investors.

Forte Biosciences Trading Up 27.6 %

Shares of NASDAQ FBRX opened at $7.02 on Thursday. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68. The firm has a market capitalization of $44.88 million, a price-to-earnings ratio of -0.43 and a beta of 2.35. The business has a 50-day moving average of $11.60 and a 200-day moving average of $11.63.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Chardan Capital restated a “buy” rating and issued a $64.00 price target on shares of Forte Biosciences in a research report on Wednesday, December 4th. TD Cowen started coverage on shares of Forte Biosciences in a research note on Tuesday, January 21st. They set a “buy” rating on the stock.

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.