Traders Purchase Large Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

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

Wall Street Analyst Weigh In

Separately, Chardan Capital increased their price target on shares of Forte Biosciences from $3.00 to $64.00 and gave the stock a “buy” rating in a report on Friday.

Forte Biosciences Trading Down 0.2 %

Shares of Forte Biosciences stock traded down $0.01 during trading on Friday, hitting $5.57. The stock had a trading volume of 11,205 shares, compared to its average volume of 4,489. The firm has a market cap of $8.13 million, a price-to-earnings ratio of -0.31 and a beta of 0.04. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $21.25. The business’s 50-day moving average is $5.53 and its 200 day moving average is $2.26.

Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). As a group, equities analysts expect that Forte Biosciences will post -22.5 EPS for the current year.

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.