Stock Traders Buy High Volume of Forte Biosciences Call Options (NASDAQ:FBRX)

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

Wall Street Analyst Weigh In

Separately, Chardan Capital restated a “buy” rating and issued a $3.00 target price on shares of Forte Biosciences in a research note on Monday, August 19th.

Forte Biosciences Trading Down 1.4 %

FBRX stock traded down $0.08 during midday trading on Thursday, hitting $5.59. 1,355 shares of the company’s stock were exchanged, compared to its average volume of 4,391. The firm has a 50 day moving average price of $5.57 and a 200-day moving average price of $2.23. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $21.25. The stock has a market capitalization of $8.16 million, a price-to-earnings ratio of -0.31 and a beta of 0.04.

Forte Biosciences (NASDAQ:FBRX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.11). On average, sell-side analysts forecast that Forte Biosciences will post -22.5 EPS for the current fiscal year.

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.