Traders Purchase High Volume of Call Options on Forte Biosciences (NASDAQ:FBRX)

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

Insider Activity at Forte Biosciences

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

Forte Biosciences Stock Down 0.7 %

FBRX stock opened at $15.88 on Friday. The company’s 50-day moving average price is $18.86 and its two-hundred day moving average price is $8.82. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68. The firm has a market cap of $23.18 million, a P/E ratio of -0.97 and a beta of 1.13.

Analyst Upgrades and Downgrades

FBRX has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of Forte Biosciences in a research report on Tuesday. They issued a “buy” rating on the stock. Chardan Capital reiterated a “buy” rating and set a $64.00 target price on shares of Forte Biosciences in a research 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.