Forte Biosciences, Inc. (NASDAQ:FBRX) Receives Average Rating of “Hold” from Analysts

Forte Biosciences, Inc. (NASDAQ:FBRX) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $75.00.

Several analysts have weighed in on the stock. Brookline Capital Management reissued a “hold” rating on shares of Forte Biosciences in a research report on Friday, September 3rd. FBR & Co. downgraded shares of Forte Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 3rd. LADENBURG THALM/SH SH downgraded shares of Forte Biosciences from a “buy” rating to a “neutral” rating in a research report on Friday, September 3rd. Truist downgraded shares of Forte Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 3rd. Finally, Truist Securities downgraded shares of Forte Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 3rd.

Shares of Forte Biosciences stock traded down $0.28 on Tuesday, reaching $3.86. The stock had a trading volume of 2,481,569 shares, compared to its average volume of 726,322. The company has a 50 day moving average price of $25.56 and a 200 day moving average price of $31.11. Forte Biosciences has a 1 year low of $3.82 and a 1 year high of $53.99. The stock has a market capitalization of $54.34 million, a P/E ratio of -0.61 and a beta of 0.26.

Forte Biosciences (NASDAQ:FBRX) last issued its quarterly earnings data on Monday, August 16th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). As a group, equities research analysts anticipate that Forte Biosciences will post -1.46 earnings per share for the current year.

In other Forte Biosciences news, insider Paul A. Wagner sold 1,000,000 shares of Forte Biosciences stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $4.35, for a total transaction of $4,350,000.00. Following the completion of the sale, the insider now directly owns 1,279,049 shares in the company, valued at approximately $5,563,863.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FBRX. Royal Bank of Canada acquired a new position in shares of Forte Biosciences in the 2nd quarter valued at $26,000. Ameritas Investment Partners Inc. purchased a new stake in Forte Biosciences in the 2nd quarter worth $30,000. Legal & General Group Plc purchased a new stake in Forte Biosciences in the 2nd quarter worth $40,000. Lindbrook Capital LLC increased its holdings in Forte Biosciences by 50.0% in the 2nd quarter. Lindbrook Capital LLC now owns 1,500 shares of the company’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new stake in Forte Biosciences in the 2nd quarter worth $55,000. Hedge funds and other institutional investors own 61.24% of the company’s stock.

Forte Biosciences Company Profile

Forte Biosciences, Inc is a clinical stage biopharmaceutical company focused on dermatology. The firm’s lead product includes FB-401, which is a live biotherapeutic for the treatment of inflammatory skin disease, including pediatric and adult patients with atopic dermatitis. The company was founded by Paul A.

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Analyst Recommendations for Forte Biosciences (NASDAQ:FBRX)

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