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

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

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 cost of $5.55 per share, with a total value of $124,952.70. Following the purchase, the chief financial officer now directly owns 30,776 shares in the company, valued at $170,806.80. The trade was a 272.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

Forte Biosciences Stock Performance

Shares of NASDAQ FBRX opened at $19.70 on Thursday. The firm has a fifty day moving average of $13.06 and a 200 day moving average of $6.13. The firm has a market cap of $28.80 million, a PE ratio of -1.21 and a beta of 1.08. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68.

Wall Street Analysts Forecast Growth

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

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.