TD Cowen Initiates Coverage on Forte Biosciences (NASDAQ:FBRX)

Investment analysts at TD Cowen started coverage on shares of Forte Biosciences (NASDAQ:FBRX) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating on the stock.

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

Forte Biosciences Trading Up 8.8 %

Shares of NASDAQ FBRX opened at $15.99 on Tuesday. The stock has a market capitalization of $23.38 million, a PE ratio of -0.98 and a beta of 1.13. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68. The stock’s fifty day simple moving average is $18.66 and its two-hundred day simple moving average is $8.77.

Insider Activity at Forte Biosciences

In other news, CFO Antony A. Riley acquired 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $5.55 per share, with a total value of $124,952.70. Following the transaction, the chief financial officer now owns 30,776 shares in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

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.