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

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of some unusual options trading on Wednesday. Stock investors purchased 30,205 call options on the stock. This represents an increase of 1,663% compared to the average volume of 1,713 call options.

Forte Biosciences Trading Up 27.6 %

FBRX stock opened at $7.02 on Thursday. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $28.68. The company has a fifty day simple moving average of $11.60 and a 200 day simple moving average of $11.63. The firm has a market cap of $44.88 million, a PE ratio of -0.43 and a beta of 2.35.

Institutional Investors Weigh In On Forte Biosciences

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Forte Biosciences by 70,000.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company’s stock valued at $48,000 after purchasing an additional 2,100 shares during the last quarter. Geode Capital Management LLC increased its holdings in Forte Biosciences by 18.3% during the 4th quarter. Geode Capital Management LLC now owns 16,877 shares of the company’s stock worth $383,000 after purchasing an additional 2,607 shares in the last quarter. Acuta Capital Partners LLC bought a new position in shares of Forte Biosciences during the 4th quarter worth approximately $412,000. Boothbay Fund Management LLC acquired a new position in shares of Forte Biosciences during the 4th quarter worth about $2,026,000. Finally, Woodline Partners LP acquired a new stake in shares of Forte Biosciences in the 4th quarter valued at approximately $4,639,000. 77.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TD Cowen started coverage on shares of Forte Biosciences in a research note on Tuesday, January 21st. They set a “buy” rating on the stock. Chardan Capital reissued a “buy” rating and issued a $64.00 target price on shares of Forte Biosciences in a report on Wednesday, December 4th.

Forte Biosciences Company Profile

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.