Forte Biosciences Target of Unusually Large Options Trading (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the target of unusually large options trading on Wednesday. Investors bought 30,205 call options on the company. This is an increase of 1,663% compared to the typical volume of 1,713 call options.

Insider Transactions at Forte Biosciences

In other news, CFO Antony A. Riley acquired 22,514 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost 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 in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

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

Forte Biosciences Trading Up 18.6 %

Shares of Forte Biosciences stock opened at $19.79 on Thursday. The company has a fifty day simple moving average of $6.54 and a 200-day simple moving average of $3.08. The stock has a market cap of $28.89 million, a price-to-earnings ratio of -1.21 and a beta of 0.04. Forte Biosciences has a 12-month low of $4.11 and a 12-month high of $23.36.

About Forte Biosciences

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.