Investors Buy High Volume of Call Options on Forte Biosciences (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of some unusual options trading on Wednesday. Traders acquired 30,205 call options on the company. This represents an increase of 1,663% compared to the average daily volume of 1,713 call options.

Analyst Ratings Changes

Separately, Chardan Capital raised their target price on shares of Forte Biosciences from $3.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

Insider Buying and Selling at Forte Biosciences

In other news, CFO Antony A. Riley purchased 22,514 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $5.55 per share, for a total transaction of $124,952.70. Following the completion of the purchase, the chief financial officer now directly owns 30,776 shares in the company, valued at $170,806.80. The trade was a 272.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Forte Biosciences Price Performance

Shares of Forte Biosciences stock opened at $19.79 on Thursday. Forte Biosciences has a 1 year low of $4.11 and a 1 year high of $23.36. The company has a market capitalization of $28.89 million, a price-to-earnings ratio of -1.21 and a beta of 0.04. The business has a fifty day simple moving average of $6.54 and a two-hundred day simple moving average of $3.08.

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.