Forte Biosciences, Inc. (NASDAQ:FBRX) Shares Sold by Tybourne Capital Management HK Ltd.

Tybourne Capital Management HK Ltd. cut its stake in Forte Biosciences, Inc. (NASDAQ:FBRX) by 96.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,981 shares of the company’s stock after selling 3,479,567 shares during the quarter. Tybourne Capital Management HK Ltd. owned approximately 0.10% of Forte Biosciences worth $810,000 at the end of the most recent reporting period.

Forte Biosciences Stock Up 18.6 %

FBRX stock opened at $19.79 on Thursday. Forte Biosciences, Inc. has a 52-week low of $4.11 and a 52-week high of $23.36. The firm has a market cap of $28.89 million, a P/E ratio of -1.21 and a beta of 0.04. The company’s 50-day simple moving average is $6.54 and its 200-day simple moving average is $3.08.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CFO Antony A. Riley purchased 22,514 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $5.55 per share, with a total value of $124,952.70. Following the purchase, the chief financial officer now owns 30,776 shares of the company’s stock, valued at $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

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.