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

Forte Biosciences, Inc. (NASDAQ:FBRXGet Free Report) was the recipient of unusually large options trading on Wednesday. Investors bought 30,205 call options on the stock. This is an increase of 1,663% compared to the typical daily volume of 1,713 call options.

Forte Biosciences Price Performance

NASDAQ FBRX opened at $19.44 on Thursday. The stock has a market capitalization of $28.42 million, a P/E ratio of -1.19 and a beta of 1.13. The business has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $7.69. Forte Biosciences has a one year low of $4.11 and a one year high of $28.68.

Insiders Place Their Bets

In other news, CFO Antony A. Riley bought 22,514 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $5.55 per share, with a total value of $124,952.70. Following the transaction, the chief financial officer now owns 30,776 shares of the company’s stock, valued at $170,806.80. This trade represents a 272.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Chardan Capital reiterated a “buy” rating and set a $64.00 price objective on shares of Forte Biosciences in a research report on Wednesday, December 4th.

View Our Latest Analysis on Forte Biosciences

About Forte Biosciences

(Get Free Report)

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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