Forte Biosciences (NASDAQ:FBRX) Price Target Cut to $61.00 by Analysts at Chardan Capital

Forte Biosciences (NASDAQ:FBRX) had its price objective cut by investment analysts at Chardan Capital from $64.00 to $61.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, TD Cowen assumed coverage on Forte Biosciences in a research report on Tuesday, January 21st. They set a “buy” rating on the stock.

Forte Biosciences Stock Down 4.3 %

FBRX opened at $7.43 on Tuesday. The business has a 50 day moving average of $10.08 and a 200-day moving average of $11.68. The stock has a market cap of $47.50 million, a price-to-earnings ratio of -0.46 and a beta of 2.35. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $28.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Forte Biosciences by 70,000.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,100 shares during the period. Geode Capital Management LLC increased its position 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 Forte Biosciences in the 4th quarter valued at approximately $412,000. Boothbay Fund Management LLC bought a new position in shares of Forte Biosciences in the 4th quarter valued at $2,026,000. Finally, Woodline Partners LP acquired a new stake in shares of Forte Biosciences during the 4th quarter valued at $4,639,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

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.