Investors Purchase Large Volume of Call Options on Forte Biosciences (NASDAQ:FBRX)

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

Forte Biosciences Trading Up 18.6 %

Shares of FBRX stock opened at $19.79 on Thursday. The company has a market capitalization of $28.89 million, a P/E ratio of -1.21 and a beta of 0.04. The business’s 50 day moving average is $6.54 and its two-hundred day moving average is $3.08. Forte Biosciences has a twelve month low of $4.11 and a twelve month high of $23.36.

Insider Buying and Selling at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley bought 22,514 shares of the business’s 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 acquisition, the chief financial officer now directly owns 30,776 shares of the company’s stock, valued at $170,806.80. The trade was a 272.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Chardan Capital raised their price objective on shares of Forte Biosciences from $3.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

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.