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

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

Forte Biosciences Trading Down 4.1 %

FBRX stock opened at $4.45 on Friday. The business’s 50 day simple moving average is $5.46 and its 200 day simple moving average is $1.91. Forte Biosciences has a 1-year low of $4.25 and a 1-year high of $21.25. The firm has a market capitalization of $6.50 million, a PE ratio of -0.24 and a beta of 0.01.

Forte Biosciences (NASDAQ:FBRX) last posted its earnings results on Wednesday, August 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). As a group, sell-side analysts predict that Forte Biosciences will post -22.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $3.00 target price on shares of Forte Biosciences in a research report on Monday, August 19th.

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.