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

Posted by Doug Madison on Nov 30th, 2024

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,400 shares, an increase of 240.0% from the October 31st total of 1,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 496,000 shares, the short-interest ratio is currently 0.0 days.

Forte Biosciences Trading Up 9.7 %

FBRX stock traded up $1.92 during trading on Friday, reaching $21.71. The stock had a trading volume of 163,318 shares, compared to its average volume of 142,789. Forte Biosciences has a 52 week low of $4.11 and a 52 week high of $23.36. The stock’s 50 day moving average is $7.08 and its two-hundred day moving average is $3.34. The firm has a market cap of $31.70 million, a PE ratio of -1.33 and a beta of 0.04.

Analyst Ratings Changes

Separately, Chardan Capital increased their target price on Forte Biosciences from $3.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Get Our Latest Stock Report on Forte Biosciences

Insider Buying and Selling

In related news, CFO Antony A. Riley bought 22,514 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $5.55 per share, with a total value of $124,952.70. Following the completion of the purchase, the chief financial officer now owns 30,776 shares in the company, valued at approximately $170,806.80. The trade was a 272.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is owned by insiders.

About Forte Biosciences

(Get Free Report)

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.