Forte Biosciences Sees Unusually Large Options Volume (NASDAQ:FBRX)

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

Insider Buying and Selling at Forte Biosciences

In related news, CFO Antony A. Riley purchased 22,514 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $5.55 per share, for a total transaction 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. This represents a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FBRX has been the subject of several research analyst reports. TD Cowen initiated coverage on shares of Forte Biosciences in a research report on Tuesday, January 21st. They issued a “buy” rating for the company. Chardan Capital restated a “buy” rating and set a $64.00 price objective on shares of Forte Biosciences in a research note on Wednesday, December 4th.

Forte Biosciences Stock Performance

Shares of FBRX stock opened at $15.00 on Thursday. The stock has a market cap of $95.85 million, a PE ratio of -0.92 and a beta of 1.09. The business’s fifty day moving average is $19.60 and its 200-day moving average is $9.85. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $28.68.

About Forte Biosciences

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.