Forte Biosciences, Inc. (NASDAQ:FBRX) Short Interest Up 19.9% in December

Posted by Eileen French on Jan 19th, 2025

Forte Biosciences, Inc. (NASDAQ:FBRX – Get Free Report) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 342,900 shares, an increase of 19.9% from the December 15th total of 286,000 shares. Currently, 5.6% of the company’s stock are sold short. Based on an average trading volume of 535,300 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

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

View Our Latest Report on Forte Biosciences

Insiders Place Their Bets

In other news, CFO Antony A. Riley bought 22,514 shares of Forte Biosciences stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $5.55 per share, with a total value of $124,952.70. Following the acquisition, the chief financial officer now directly owns 30,776 shares in the company, valued at approximately $170,806.80. This represents a 272.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by company insiders.

Forte Biosciences Trading Down 1.3 %

FBRX traded down $0.20 on Friday, hitting $15.60. 30,667 shares of the company’s stock were exchanged, compared to its average volume of 49,121. The stock has a fifty day moving average of $18.27 and a two-hundred day moving average of $8.50. Forte Biosciences has a twelve month low of $4.11 and a twelve month high of $28.68. The firm has a market cap of $22.78 million, a PE ratio of -0.96 and a beta of 1.13.

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.