Forte Biosciences, Inc. (NASDAQ:FBRX) Sees Significant Increase in Short Interest

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 342,900 shares, an increase of 19.9% from the December 15th total of 286,000 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average trading volume of 535,300 shares, the short-interest ratio is currently 0.6 days.

Forte Biosciences Stock Down 1.3 %

FBRX stock traded down $0.20 during midday trading on Friday, reaching $15.60. The stock had a trading volume of 30,667 shares, compared to its average volume of 49,121. Forte Biosciences has a twelve month low of $4.11 and a twelve month high of $28.68. The firm has a market cap of $22.78 million, a price-to-earnings ratio of -0.96 and a beta of 1.13. The business has a fifty day simple moving average of $18.27 and a two-hundred day simple moving average of $8.50.

Insider Activity

In other news, CFO Antony A. Riley bought 22,514 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $5.55 per share, with a total value of $124,952.70. Following the acquisition, the chief financial officer now owns 30,776 shares in the company, valued at $170,806.80. This trade represents a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital restated a “buy” rating and set a $64.00 target price on shares of Forte Biosciences in a report on Wednesday, December 4th.

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.