Forte Biosciences Sees Unusually High Options Volume (NASDAQ:FBRX)

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

Forte Biosciences Price Performance

Shares of Forte Biosciences stock opened at $19.70 on Thursday. The stock has a market capitalization of $28.80 million, a P/E ratio of -1.21 and a beta of 1.08. The business has a 50 day simple moving average of $13.06 and a two-hundred day simple moving average of $6.13. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

Insider Transactions at Forte Biosciences

In related news, CFO Antony A. Riley purchased 22,514 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 owns 30,776 shares in the company, valued at $170,806.80. The trade was a 272.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.