Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) was the recipient of some unusual options trading activity 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.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Fred Alger Management LLC bought a new stake in shares of Forte Biosciences during the 3rd quarter worth about $1,217,000. BML Capital Management LLC boosted its holdings in shares of Forte Biosciences by 1.5% during the 3rd quarter. BML Capital Management LLC now owns 1,761,702 shares of the company’s stock worth $1,166,000 after buying an additional 26,627 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Forte Biosciences by 40.4% during the 3rd quarter. Vanguard Group Inc. now owns 647,293 shares of the company’s stock worth $692,000 after buying an additional 186,159 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Forte Biosciences by 105.0% during the 3rd quarter. Renaissance Technologies LLC now owns 444,129 shares of the company’s stock worth $475,000 after buying an additional 227,429 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Forte Biosciences during the 2nd quarter worth about $77,000. 77.63% of the stock is currently owned by institutional investors and hedge funds.
Forte Biosciences Price Performance
Forte Biosciences stock opened at $0.74 on Thursday. The firm has a market capitalization of $26.93 million, a PE ratio of -0.71 and a beta of 0.48. The company’s 50-day moving average is $0.70 and its 200-day moving average is $0.64. Forte Biosciences has a fifty-two week low of $0.38 and a fifty-two week high of $1.15.
Analyst Ratings Changes
Separately, LADENBURG THALM/SH SH upgraded shares of Forte Biosciences from a “neutral” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Monday, April 8th.
Get Our Latest Stock Report on FBRX
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.
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