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

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

Insider Buying and Selling at Forte Biosciences

In other Forte Biosciences news, CFO Antony A. Riley acquired 22,514 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were 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 of the company’s stock, valued at $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $64.00 price target on shares of Forte Biosciences in a report on Wednesday, December 4th.

Forte Biosciences Price Performance

Shares of NASDAQ FBRX opened at $23.03 on Friday. The firm’s 50 day simple moving average is $10.39 and its 200-day simple moving average is $4.86. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68. The stock has a market capitalization of $33.67 million, a price-to-earnings ratio of -1.41 and a beta of 1.11.

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.