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

Forte Biosciences, Inc. (NASDAQ:FBRX) saw some unusual options trading activity on Wednesday. Stock traders acquired 30,205 call options on the company. This represents an increase of 1,663% compared to the typical volume of 1,713 call options.

Insider Activity

In other news, CFO Antony A. Riley acquired 22,514 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $5.55 per share, with a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FBRX shares. Chardan Capital reissued a “buy” rating and issued a $64.00 price objective on shares of Forte Biosciences in a research note on Wednesday, December 4th. TD Cowen started coverage on shares of Forte Biosciences in a research note on Tuesday, January 21st. They issued a “buy” rating on the stock.

Forte Biosciences Stock Performance

NASDAQ FBRX opened at $13.00 on Friday. The firm’s fifty day moving average price is $19.50 and its two-hundred day moving average price is $9.89. The stock has a market cap of $83.07 million, a PE ratio of -0.80 and a beta of 1.09. Forte Biosciences has a fifty-two week low of $4.11 and a fifty-two week high of $28.68.

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.